Tokio Marine to provide liability cover for drone pilots

New insurance policy to cover pilots that have finished a training course from an accredited school

Tokio Marine to provide liability cover for drone pilots

Insurance News

By Gabriel Olano

Tokio Marine & Nichido Fire Insurance of Japan has introduced an accident liability insurance product for certified drone pilots.

The policies are sold in cooperation with Japan’s Drone Pilot Association (DPA), which requires all its members to obtain insurance, reported Nikkei. DPA will subsidise the premiums for the policies, which will cover drone pilots that have graduated from an accredited school. DPA, which is registered with the transport ministry, will award professional certificates to pilots.

The demand for drone insurance has grown in recent years after several crashes and accidents made the headlines. The insurance policies feature liability coverage, including injuries and damage to property resulting from drone crashes. Coverage is at ¥100 million (US$913,000) for individuals, while corporate policyholders can expand their coverage up to ¥1 billion (US$9.13 million).

DPA has 30 accredited drone flying schools across Japan, with an additional 70 schools to be added beginning 2019. This will bring the total number of schools to 100, with around 10,000 insured pilots.

Tokio Marine is reportedly looking for more unmanned aerial vehicle industry partners to work with in selling its new drone insurance product.

Related stories:
Munich Re seals deal with drone-inspection provider
Hong Kong proposes tough rules on drones, opens up insurance market
Allianz and Flock partner up for on-demand drone insurance

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