The insurance coverage safety provided for the Damage to the Drone & Payload it carries will present protection for the alternative or restore, unintentional lack of or harm to the UAS (Unmanned Aircraft System) arising from the dangers coated, together with disappearance if the UAS is unreported after the graduation of Flight. Third-Party Liability protection will cowl authorized liabilities like bodily harm or property harm claims to 3rd events arising out of utilization and operation of drones.
Speaking on the collaboration, Mr. Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance mentioned, “The drone ecosystem is becoming sophisticated with a significant projected dynamic growth in the global aerospace segment. With such progression comes new-age risks which need to be safeguarded against by providing customer-centric innovative insurance solutions with a focus on superior service. Our strategic partnership with TropoGo will enable Bajaj Allianz General Insurance to provide a comprehensive drone insurance protection cover to their extensive network of customers so as to ensure a worry-free flying experience for customers.”
Speaking on the affiliation, Mr. Sandipan Sen, Founder and Product Owner of TropoGo mentioned, “While working with the Indian Drone Ecosystem, we understood that the risk exposure for manufacturers has largely been unaddressed. To address the need, we have joined hands with Bajaj Allianz General Insurance which will empower us to further expand the insurance offering to the vibrant & rapidly growing Indian Drone Ecosystem. We aim to make these unique insurance products easily accessible to manufacturers to safeguard their business operations.”
Drone owners and drone manufacturing companies can avail an annual third-party and comprehensive coverage for accidental damage, theft, and disappearance. Users can opt for additional endorsements for night flying, BVLOS, payload & data loss liability. Companies can also avail customized insurance coverage for fleet requirements. In addition, the company is also introducing a well-crafted insurance product for the manufacturer’s specific needs which includes Transit, Fire, Cyber, and D&O aimed at covering emerging business operations, making it a full suite of insurance products for the drone industry.