UAV and UAS Insurance - I was asked to clarify on this forum, the type of insurance we provide. Please give me a call with any additional questions. Transport Risk is an independent aviation insurance specialty broker. All of our policies are individual primary placements that insure the aircraft and the operator of that aircraft for liability (sued by third parties) and/or physical damage (damage to the aircraft) arising from those activities. Coverage is quoted through aviation insurers that are all A++ rated. The policies are very broad commercial aviation policies that cover most aspects of liability exposures of a commercial aviation operator and all exposures outlined in the application, quote and eventual policy. The coverage provided can be liability-only or full hull and liability coverage. The policies are individually written and placed and not a program type placement that you would see through the AMA or similar organization. That type of program simply does not exist in the aviation industry due to the limits and catastrophic nature of aviation. You can check your homeowners policy for UAS coverage however weve never seen a (any) non-aviation insurance policy cover physical damage or liability that results from commercial or even non-commercial operation of an aircraft. The FAA and nearly every other government agency defines UAV and UAS as an aircraft. If a loss occurs, you should expect to have this point questioned when the claim is presented. It could be a difficult discussion. The easiest way to describe our coverage is that it would be nearly identical to that which would be carried by a commercial manned helicopter for specific uses outlined in the application. We can provide liability limits up to $100,000,000 and hull values up to $10,000,000. Yes, we currently insure UAS in these value and limit ranges. Several in fact. FAR Violations and Civil Sanctions Coverage applies to all losses that occur from operations and uses described in the policy. FAR Violations resulting from the loss would not result in a denial of coverage provided the use was approved under the policy. This includes commercial operations. Aviation insurance policies do not deny coverage for FAR Violations with a few exceptions and none of which CURRENTLY apply to UAS or exposures outlined in the applicaiton. Those FARs would typically be associated with a current airworthiness certificate, current medical and pilots certificate. Insurance would cover the loss that is accompanied by an FAR violation but it would not defend the sanction or pay the fine. Criminal Violations Statutory violations (breaking the law usually with intent) can result in a denial of coverage. If you have a loss intentionally looking in windows and it’s illegal to look in windows and you are arrested in the process or charged with a crime, you should expect a denial of coverage. If you unintentionally catch something in a window shooting the property next door and have a loss, you would most likely be covered even if you are charged. YOU MUST KNOW THE LAW HOWEVER. All of the above said, we are VERY selective in the risks we insure. We value an aviation background, quality equipment, training and a professional attitude toward operations and safety. In reality, we will only accept about 1 out of 20 risks we receive seeking coverage. Please contact us with any additional questions or for additional information: uav@TransportRisk or 866-256-0227
Posted on: Sun, 04 May 2014 12:34:52 +0000
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