ISO’s New Drone Insurance Coverage Options Now in Effect

Posted by Betsy Lillian on June 03, 2015 No Comments
Categories : UAV Safety

ISO, a provider of information about property/casualty insurance risk, says its new coverage and exclusion options for commercial drones have officially taken effect in most ISO jurisdictions.

The new options, effective June 1, address the growing liability exposures of the technology, says ISO, a Verisk Analytics business. In December, ISO first announced its plans for the new options, which modify coverage under ISO’s commercial general liability and commercial liability umbrella/excess programs.

Six core options are available under each program (three optional exclusions and three limited-coverage endorsements) and can be used to address a number of potential exposures with respect to bodily injury, property damage and other potential liability related to drones.

“As more businesses introduce drones into their operations, insurers need underwriting tools available to them to address the potential wide range of exposures they’ll likely face,” says Ron Beiderman, vice president of commercial lines coverage products at ISO Insurance Programs and Analytic Services. “Our new flexible endorsement options can help insurance carriers tailor the coverage to address such exposures in ways that suit their risk tolerance.”

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