Starr Companies have formed an agreement with the Academy of Model Aeronautics (AMA) to offer its members insurance coverage for the commercial use of unmanned aircraft systems (UAS), also known as drones.
Coverage includes personal injury up to $250,000 each occurrence/aggregate; medical payments coverage of $1,000 per person; and liability coverage for the UAS up to $2 million each occurrence, which includes bodily injury and property damage in a combined single limit. Optional hull coverage is available for the UAS up to $10,000 agreed value with a deductible of 10 percent of the amount of insurance.
Coverage is applicable to commercial operators only and is not available to recreational operations.
This product is being offered exclusively by the Harry A. Koch Agency in Omaha, Neb., to any current AMA member in all 50 states. AMA has over 195,000 members with over 2,500 model airplane clubs across the country.
Starr will continue offer coverage to the UAS community outside of the AMA offering.
Starr Companies (Starr) is the worldwide marketing name for the operating insurance and travel assistance companies and subsidiaries of Starr International Company, Inc. and for the investment business of C.V. Starr & Co., Inc. and its subsidiaries. Starr is an insurance and investment organization with a presence on five continents; through its operating insurance companies, Starr provides property, casualty, and accident & health insurance products as well as a range of specialty coverages including aviation, marine, energy and excess casualty insurance.