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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Insurance industry may gain access to drones
AIG receives approval to use drones to assess property damage The American International Group (AIG), one of the largest insurance providers in the United States, has announced that it has received approval to use drones to inspect properties throughout the country. This approval has come from the Federal Aviation Administration, which enforces strict regulations when it comes to the commercial use of drones. These drones are small aerial units that are controlled remotely. These drones are typically used for recreational purposes due to federal regulations. Commercial use of drones is…
Read MoreInsurance news for drone pilots shows coverage to get them flying
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…
Read MoreDrones may be coming to the insurance industry
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.…
Read MoreSpaceX brings space tourism into the limelight
Successful shuttle launch highlights insurance coverage California-based Space Exploration Technologies, commonly known as SpaceX, successfully launched its Falcon 9 rocket carrying its Dragon spacecraft into orbit this week. The launch marks the first time a commercial company has made an attempt to send a spacecraft to the International Space Station orbiting the planet. Since the U.S. retired its spacecraft fleet, space exploration has become a commercial province. As such, it has also become an attractive industry for insurers looking to expand their business. SpaceX’s launch, for instance, was not short…
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