TMCnet News

A.M. BestTV: Expanding Drone Use Calls for New Coverages, Possible Discounts
[November 14, 2016]

A.M. BestTV: Expanding Drone Use Calls for New Coverages, Possible Discounts


In this A.M.BestTV episode, new rules on drone operations and the widening range of drone-related tasks means that drone operators should consider new types of coverage and pursue discounts on some existing coverages. Click on http://www.ambest.com/v.asp?v=drone1116 to view the entire program.

New rules and technologies represent new challenges and opportunities in insurance and risk management, especially when it comes to unmanned aerial vehicles or drones. Sales of drones have been explosive, and the Federal Aviation Administration (FAA) expects to register 600,000 in the first year of the FAA's small unmanned aircraft rule, called Part 107.

"That is a staggering number, especially when you consider that in the past year, there were sales of 700,000 drones," said Paul Bowles, attorney, Fitzpatrick & Hunt, Pagano, Aubert. "That is a 224% increase from 2015-2016. That being the case, I believe the sales numbers show that this is a very fast moving and growing industry, which will present a lot of different issues to risk management."

Tracey Waller, casualty product development lead, ISO, a unit of Verisk, said she thinks that there are many exposure issues that need to be considered, particularly cyber. Waller said, "Drones are as susceptible to hacking as any other computer."

Recent episodes of A.M.BestTV include:

  • Physician-Owned Insurers Buffeted by Market, Regulatory Forces: New rules that tie doctors' reimbursements to patient outcomes and other standards, along with ongoing U.S. health consolidation, are forcing physician-owned insurers to examine new ways to cover larger risks: http://www.ambest.com/v.asp?v=piaa1116.
  • Asean Insurance Council Secretary General Previews Meeting: Evelina Pietruschka, secretary general of the ASEAN Insurance Council, outlines discussions set for this month in Yogyakarta, Indonesia, as members of the Southeast Asia insurance community move closer to integrating markets: http://www.ambest.com/v.asp?v=asean1116.
  • A.M. Best Analytics: Workers' Compensation Line Delivers Strong Profit Despite Falling Rates: A.M. Best's Gordon McLean, senior financial analyst, and Connor Brach, associate analyst, said the U.S. workers' compensation insurance sector posted a combined ratio of 96.0 in 2015, the fifth year in a row of underwriting profits: http://www.ambest.com/v.asp?v=workerscomp1016.
  • U.S. Presidential Election Could Impact ACA, International Trade, Regulation: Insurance leaders say the upcoming U.S. presidential election could affect health care, global business and antitrust exemptions: http://www.ambest.com/v.asp?v=platforms1116.

A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View A.M.BestTV episodes at http://www.ambest.tv.

A.M. Best is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.


Copyright © 2016 by A.M. Best Company, Inc. and/or its subsidiaries. ALL RIGHTS RESERVED.


[ Back To TMCnet.com's Homepage ]