IRDAI through Circular dated 11-02-2021 has provided the Product Structure for Insurance of Remotely Piloted Aircraft System(drones). IRDAI, Considering the unique characteristics of Drones that differentiate them from other aircrafts and taking into account the phenomenal growth in the usage of Drones for multiple purposes, in order to facilitate flexibility and innovation in the development of insurance coverage for evolving technology requirements, the following product construct is provided.
The product provides cover for Physical Damage to Drone Body /Hull, Personal Accident cover to Operator and Medical expenses cover to operator.
