More evidence that the marketplace beats government, from Insurance Journal
Thousands of drones flown without government approval by real estate
companies, movie studios and other businesses are getting coverage by
insurers writing their own safety rules to fill a void left by
One insurance broker
in Colorado has already written policies on 2,600 drones, and a San
Francisco-based company said it has assembled an Uber-like list of 1,000
trained operators businesses can hire to do the flying for them.
A need was found...and filled, without any direction from above;
“We’ve been insuring them for going on four years,”
said Terry Miller, owner and president of Transport Risk Management
Inc., which had to invent safety requirements for its drone clients.
Purchasing insurance for commercial drones, which isn’t prohibited under FAA rules, doesn’t make flying them legitimate, the agency said.
Whether drone operators’ actions are legal doesn’t affect Miller’s willingness to write insurance.
He said that, while he welcomes more FAA oversight, there’s no point in
waiting for the rules to be completed and that the standards his
company sets for insurance policies often exceed what the government has proposed.
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