Thursday, August 12, 2021

ICICI Lombard's Comprehensive Drone Insurance Takes Flight

Mumbai: ICICI Lombard General Insurance, India's leading private sector non-life insurance company has launched a comprehensive remotely piloted aircraft Insurance specially for drone operators.This comprehensive product covers any theft or loss or damage caused to the drone, including the payload (camera/equipment) attached to it as well as Third Party Liabilities.  

With over a decade of experience in underwriting aviation risks for both domestic airlines and aviation fleets in India and its claim handling expertise, ICICI Lombard has now forayed into the Drone insurance space. The drone insurance product offers a comprehensive cover wherein an operator can opt for both Hull & Liability cover, for any commercial usage permitted by the Directorate General of Civil Aviation (DGCA) & the Ministry of Civil Aviation (MoCA).  

The comprehensive policy covers six types of risks. The Hull Cover covers any accidental loss/damage to the drone including theft and disappearance within the scope of the policy. Any loss due to wear and tear or gradual deterioration over time, as well as non-compliance with the DGCA guidelines, is not covered under this. The Payload Cover and Equipment Cover insures the accidental physical loss or damage of the payload, while the same is attached to the drone, and to the property being spares, engines and associated equipment, respectively. The insurance also provides a Personal Accident Cover applicable to the insured/authorised operator for bodily injury sustained in India while operating drones and arising out of an accident. In addition to this, the policy also provides the facility of Medical Insurance Cover for insured/authorised operator who has been hospitalized because of a bodily injury arising out of the flight of the covered drone. 

12/08/21 PRNewswire

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