drone insurance News

EU Draft Rules Would Make It Easier to Sue Drone Makers, AI Systems

Individuals and companies that suffer harm from drones, robots and other products or services equipped with artificial intelligence software will find it easier to sue for compensation under EU draft rules seen by Reuters. The AI Liability Directive, which the …

UAE Bans Flying of Recreational Drones After Fatal Attack on Oil Facility

DUBAI, United Arab Emirates (AP) – The United Arab Emirates has banned the flying of drones in the country for recreation after Yemen’s Houthi rebels claimed a fatal drone attack on an oil facility and major airport in the country. …

Connecticut Drone Company Aquiline Forms Captive Insurer

Aquiline Drones Corp. (AD), a Hartford, Conn.-based drone manufacturing and services firm, has completed the licensing process to establish its own insurance captive, Aquiline Drones Indemnity Corp. (ADIC). This insurance license allows AD to assume the risk of its entire …

Insuring Commercial Drones: Liability or Opportunity?

Developments in drone technology are often heralded as having the potential to change the landscape of business operations, most prominently in the consumer goods shipping sector. Yet, the development of federal regulation and guidance on the commercial use of drones …

British On-Demand Drone Insurer Flock Raises $17 Million in Funding

British drone insurer Flock has raised $17 million from investors in early-stage funding led by venture investor Chamath Palihapitiya’s Social Capital, Flock said on Thursday. Flock started out insuring commercial drones, and added car and van fleets last year. It …

BI Innovation Coming Soon: Low-Limit Policies from Insurtech Thimble

See a need and then fill it. That’s the secret of most successful businesses—and that was the driving motivator of insurtech Thimble, which is currently working on coverage for small business customers during business interruptions. Jay Bregman, co-founder of the …

On-Demand Insurance to Play Major Role in Industry’s Future: IUA Research

On-demand insurance will play a fundamental role in the future of the industry, according to research published by the International Underwriting Association (IUA). Pay-as-you go models of cover will allow customers to automatically activate policies, when and where they need …

Verifly, Now Thimble, Raises $22M to Fuel On-Demand Insurance Growth

Thimble, formerly known as Verifly, raised $22 million in new financing designed to fuel further expansion and diversification well beyond its original focus on on-demand drone insurance. Existing investors Slow Ventures, AXA Venture Partners and Open Ocean participated in a …

SkyWatch.AI Launches On-Demand Drone Insurance in UK, Underwritten by Chaucer

SkyWatch.AI, the on-demand, telematics-based insurance platform, has launched in the United Kingdom following last year’s launch in the United States. SkyWatch.AI’s UK policies will be underwritten by specialty insurance and reinsurance group Chaucer. SkyWatch.AI is offered by on-demand, usage-based specialized …

UK to Extend No-Fly Zone for Drones Flying Near Airports

Britain will impose a 5 kilometer (3.1 mile) drone exclusion zone around its runways as the government responds to illegal incursions that closed London Gatwick airport for 36 hours in December, disrupting travel for more than 120,000 people. The measures, …