ISO drone insurance options now available
ISO, Jersey City, N.J., which provides advisory services and information to many insurance companies, has new coverage and exclusion options for commercial drones that now are effective in most ISO jurisdictions, providing insurers with tools to help develop innovative solutions for businesses that use drones.
The new options became effective June 1 and address the growing liability exposures of commercial drones, which already have been put to a wide range of uses, including aerial photography. The options modify coverage under ISO's Commercial General Liability and Commercial Liability Umbrella/Excess programs. Three optional exclusions and three limited-coverage endorsements comprise the six core options. The options can be used to address a number of potential exposures regarding bodily harm, property damage and other potential liability stemming from drone use.
"As more businesses introduce drones into their operations, insurers need underwriting tools available to them to address the potential wide range of exposures they'll likely face," says Ron Beiderman, ISO Insurance Program and Analytic Services' vice president of commercial lines coverage products. "Our new flexible endorsement options can help insurance carriers tailor the coverage to address such exposures in ways that suit their risk tolerance."