A.M. BestTV: Drones Present Coverage Opportunities, Legal Hurdles

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October 16, 2015 12:38 PM EDT

OLDWICK, N.J.--(BUSINESS WIRE)-- In this A.M. BestTV episode, insurance and legal experts explore regulatory concerns and risk exposures raised by the rapid adoption of drones for professional and recreational usage. Click on http://www.ambest.com/v.asp?v=dronestwo1015 to view the entire program.

As drones become more and more commonplace, questions arise as to the legal commercial usage of these unmanned aircraft and their insurability. One question, “What are the legal implications of drones?”

“If your company does not have a Federal Aviation Administration (FAA) exemption and uses a commercial drone in its business, including insurance, adjusting or any of these related activities, then your company is in potential peril of the FAA coming after it,” said Bruce Raymond, principal, Raymond Law Group.

Doug Haybarker, claims manager, State Auto Insurance Company addressed the issue of insurers recognizing the potential profit-making value of this new market. “There are companies that are going to specialize in and become license to have commercially approved drones to do specific things, such as, the investigation of claims. In fact, currently there are companies that offer the ability to fly over large areas and gather very specific data in those areas.”

Go to http://www.ambest.com/webinars/drone215 to see the full webinar on drones.

Recent episodes of A.M.BestTV include:

  • Defense Research Institute Conference: Attorneys Detail Shifts in Insurance Legal Landscape: Attorneys at the Defense Research Institute (DRI) conference, in Washington, D.C., said insurers are trying fewer cases, retaining fewer firms, facing new forms of liability and threats to attorney-client privilege: http://www.ambest.com/v.asp?v=dri1015.
  • International Cooperative and Mutual Insurance Federation Conference: Mutuals Sharpen Focus on Membership: Insurers at the biennial conference of the International Cooperative and Mutual Insurance Federation in Minneapolis, MN, said mutual companies are putting a focus on building closer relationships with members and gaining better understanding from regulators: http://www.ambest.com/v.asp?v=icmif21015.
  • Business and Environmental Sustainability Hot Topics at International Cooperative and Mutual Insurance Federation Conference: At the biennial conference of the International Cooperative and Mutual Insurance Federation in Minneapolis, MN, attendees discuss the topics they consider to be high priority, such as, sustainability, environmental and financial, which gives them an advantage in today's market: http://www.ambest.com/v.asp?v=tarbuck1015.
  • Mexico Could See Increased Reinsurance Demand: A.M. Best América Latina Director of Analytics Alfonso Novelo’s discusses Mexico’s new Solvency II- like regulations and how it could lead insurers concentrated in certain lines of business to seek out capital relief through reinsurance: http://www.ambest.com/v.asp?v=mexicoreinsure1015.

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 Company is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2015 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

A.M. Best Company
Lee McDonald, 908-439-2200, ext. 5561
Group Vice President, Publication and News Services
[email protected]

Source: A.M. Best Company


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