Northern Ireland broker Find Insurance NI has launched a drone insurance product for the entire UK market amid the increasing demand for unmanned aerial vehicles (UAV).
Trading under the name Aviate Protect, Find Insurance NI has teamed up with Global Aviation Insurers to create a new product for the commercial drone market.
Find Insurance marketing manager Lana Cairns said that existing UAV insurance offerings in the market are limited, forcing drone operators to take out unnecessary cover due to the lack of product choice.
“We therefore spotted a gap in the market. That’s when we decided to develop our own UAV Insurance product and create a new brand known as, Aviate Protect,” Cairns said.
Cairns added that the new policy allows UAV operators to choose their own level of cover tailored for what they really need.
“It was essential for us to develop a product that was not only appealing in terms of the cover and choice available, but also one that proves cost-effective to the consumer,” she said.
According to ARPAS, the professional trade association for remotely piloted aircraft and systems, television and filmmaking has accounted for 75% of UK commercial drone activity until recently.
However, this is no longer the case, said Find Insurance NI director Colin Mullan, with property and construction now dominating as the largest sectors adopting UAV technology.
“UAV technology is rapidly advancing and as a result, we see a clear market potential,” Mullan said. “The market is constantly evolving and it has already seen some notable changes.”
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