Delta Insurance New Zealand Limited has taken it upon themselves to address this gap in the insurance sector, launching their solution in conjunction with their sponsorship of the NZ UAV Conference held at the Auckland University of Technology.
According to their General Manager, Craig Kirk, most aviation and liability insurers exclude risks that are very specific to the UAV industry, including breaches of privacy and statutory liability, combined with there being very few products that offer composite hull and liability insurance.
The UAV industry, valued globally at over $127bn, is still in the process of entering new territory when it comes to risk management. The result of this is that operators often assume that UAVs will be covered under a general commercial insurance policy when in reality they are left exposed and are taking unnecessary risks.
Linda Bulk, co-director of Aeronautics Ltd, welcomes the move, claiming that, “For the market to reach its full potential it needs a secure operating environment, it needs insurance that reflects its realities.”
The scope of the UAV industry has moved forward to the point that Domino’s Pizza has started testing a drone delivery service in New Zealand, in conjunction with US firm Flirtey, which haas been behind the recent 7-Eleven deliveries.
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