Insurance industry may gain access to drones

commercial drones crop insurance industry news

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…

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S&P downgrades Californian insurers while Commissioner Jones insists the companies are financially sound

Rating agency Standard & Poor’s seems to be in the grips of a downgrading frenzy as the agency downgrades the credit ratings of five of California largest insurance companies. The move comes on the heels of the agency’s downgrading of the federal government’s credit rating, which sparked controversy throughout the country and drove many businesses to re-evaluate their place in the commercial market. S&P downgrade of the state’s insurers could have major implications for the industry, but Insurance Commissioner Dave Jones says that there should be no doubt about the…

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