Risk Management and Insurance Issues for Your UAS Operations: Are You Prepared?
The Federal Aviation Administration has issued new Part 107 regulations concerning small unmanned aircraft systems (“sUAS”), boosting investment in the expanding commercial market. As the Agency continues to allow more and more commercial sUAS operations, the usage of sUAS will increase dramatically. The author of this article discusses proper risk management and insurance coverage for sUAS operations.
The Federal Aviation Administration (“FAA”) has promulgated new Part 107 regulations concerning small unmanned aircraft systems (“sUAS”) (popularly known as drones), boosting investment in the expanding commercial UAS market. Drones are used in a number of industries such as agriculture, oil and gas, construction, journalism, real estate, and the motion picture and television industries.
Additional FAA regulations, which would allow greater flexibility for commercial sUAS operations outside of the restrictions of Part 107, are expected in the next year or so, including allowing sUAS operations at night, above people, or beyond visual line-of-sight (“BVLOS”). The rapid development of UAS technology has created a burgeoning market for UAS, with the estimated global market for UAS expected to reach $93 billion by 2021. The potential usages of UAS is limited only by our imagination.
Whether you are a drone operator, manufacturer, or are allowing third parties to operate drones on your property, developing an overall risk management and insurance strategy is critical.
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“Risk Management and Insurance Issues for Your UAS Operations: Are You Prepared?” by Elaine D. Solomon was published in the March–April 2018 edition of RAIL: The Journal of Robotics, Artificial Intelligence & Law (Vol. 1, No. 2), a Fastcase, Inc. publication. Reprinted with permission.