QBE launches drone cover

Australia’s QBE Insurance Group is introducing a drone insurance policy in response to the rapidly expanding drone market, according to a Jan. 16 press release.

The new policy exists as a stand-alone product from QBE’s current aviation policies.

Risks specific to drone operators include loss of valuable assets in case of a crash or potentially huge financial losses for any damage or injuries that may arise from an incident.

There are more than 1,200 commercial operators in Australia who hold a Remote Operator’s Certificate (ReOC) and 7,000 individuals or companies providing Remotely Piloted Aircraft Systems (RPAS) services under the ‘excluded category’. The excluded category captures any RPA device that is under 2kg and flown for commercial reasons. The global drone technology industry is forecast to be worth $127 billion by 2020, according to QBE.

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