Tata AIG forays into Drone Insurance
Tata AIG and Drone Federation of India (DFI) will cater to the insurance and risk management requirements of drone manufacturers, suppliers, buyers, owners and operators.
January 29, 2020 / 08:48 PM IST
Tata AIG and Drone Federation of India (DFI) have collaborated to create insurance products and services for the Drone Industry.
The Drone Federation of India (DFI), a not-for-profit industry-led body that strives to build a safe and scalable unmanned aviation industry in India, recently organized the Drone Festival of India at New Delhi. Tata AIG General Insurance Company Limited (Tata AIG) was the insurance presenter at the festival and showcased its readiness to cater to the insurance and risk management requirements of drone manufacturers, suppliers, buyers, owners and operators.
Sushant Sarin, Executive Vice President & Head Reinsurance, Tata AIG, said, “DGCA regulations make insurance mandatory during operation of remotely piloted aircraft systems. Our collaboration with DFI to launch tailor-made insurance products for drone operators, subject to necessary approvals from insurance regulator, furthers our mission to create a better tomorrow for our customers by delivering innovative risk solutions.”
“With the government taking active steps to support drone manufacturing and drone operations in India, we will soon see proactive usage of drones in activities like mining, construction, surveillance, transport, fire-fighting, law enforcement, agricultural and topographical data acquisition, insurance assessments, media and entertainment,” said Smit Shah, Director - Partnerships, DFI.
“Our association with Tata AIG will help create insurance solutions for the Drone Industry thus operationalizing a very important part of the Civil Aviation Requirements for RPAS as mandated by DGCA India ," added Shah.