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Verisk Analytics Inc.’s Insurance Services Office Inc. unit has developed endorsements to address the liability exposure of commercial drones.
The three endorsements, which will be available in June, cover bodily injury, property damage, and personal and advertising injury liability for scheduled unmanned aircraft, Ron Beiderman, vice president of commercial lines coverage products at ISO Insurance Programs and Analytic Services, a business unit, said Tuesday.
The endorsements modify coverage under ISO’s commercial general liability and commercial liability umbrella/excess policies, Jersey City, New Jersey-based ISO said Monday in a statement.
“Because this is a newly emerging exposure, we introduced various exclusion and coverage options to give insurers maximum flexibility when writing risks that use drones in their operations,” Mr. Beiderman said in the statement.
(Reuters) — Cyber attacks and commercial drones pose a growing risk of commercial airplane crashes, a major insurer said, running counter to a long-term decline in fatal accidents and insurance premiums.