Irdai urges general insurers to file products for drone coverage

If the bodily injury results in permanent disability, the insurer will have to pay 125 per cent of the sum assured.

The Insurance Regulatory and Development Authority of India (Irdai) has asked general insurance companies to file the “model product” suggested by one of its working groups, regarding drones, given that only a handful of insurers offer coverage to drones under aviation insurance at present.

Alternatively, they could can design and develop their own product and file it with the insurance regulator at the earliest to meet the demands of this growing sector.

However, any product developed by insurers has to offer third-party liability insurance, the regulator added.

“Considering the unique characteristics of drones that differentiate them from other aircraft, and taking into account