Tag: faa

SpaceX pre-launch liability insurance massively increased following FAA requirement

Julie Campbell
spacex falcon 9 pre-launch liability insurance

A new mandate was put into place which increased the minimum coverage requirement by five times. SpaceX changed its launch schedule to today at 1:35am but was required to carry far more pre-launch liability insurance than it previously held. The launch had been postponed as a result of high winds at Cape Canveral. SpaceX will webcast the launch so it can be viewed live. The original launch had been scheduled for March 14, but the delay was considered necessary. This particular mission was created to add the Echo Star XXIII…

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ADM to use drones to investigate crop insurance claims

Marc
commercial drones crop insurance industry news

ADM wins approval to use drones to collect crop insurance data Archer Daniels Midland Co. (ADM), a food processing and commodities provider that offers insurance coverage through captives, may soon begin using drones to investigate crop insurance claims. The ADM Crop Risk Services branch has won approval to use drones for such a purpose from the Federal Aviation Administration. This approval makes ADM one of the very few companies in the insurance industry that has managed to receive approval from the Federal Aviation Administration to use drones for a commercial…

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AIG insurance drones receive FAA approval

Julie Campbell
liability Insurance industry policy for drones

These flying devices can be used for the replacement of human inspectors for a better vantage point. Inspectors regularly need to climb up ladders onto the rooftops of buildings to check the situation after a claim has been made following a storm, for example, but this job may soon be done by insurance drones now that the FAA has made a new exception to its regulations. AIG has received the approval from the FAA to begin using drones to complete jobs that would be risky for humans. This will mean…

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Insurance news for drone pilots shows coverage to get them flying

Julie Campbell
commercial drones crop insurance industry news

Many insurers are now writing their own rules to cover pilots who are finished waiting for federal regulations. Every day, thousands of drones fly low and high in the sky without receiving government approval, so the latest insurance news has shown that insurers have come up with their own safety regulations to help to fill the gap that has been left in place by official regulators. These drones are being used by movie studios, real estate companies, and other businesses and industries. The devices provide, among other things, an inexpensive…

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Drones may be coming to the insurance industry

Marc
Insurance industry standards and technology

California insurer wants to use drones to expedite the claims process after natural disasters An insurance company operating in California wants to use unmanned aircraft to speed up the claims process associated with natural disasters. In the wake of a natural disasters, such as a major flood or earthquake, insurers often deploy claims adjusters to help policyholders file claims. This can be a time consuming process, depending on the severity of the disaster, and the longer the claims process takes, the more money an insurer is spending on the matter.…

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