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Evaluation and mitigation of drone-related risks

More than 7 million drones will be flying by 2020, costing insurers $6.8 billion.

By James E. Mackler | Updated on April 06, 2017

The use of unmanned aircraft systems (UAS or “drones”) by individuals and industry continues to grow.

According to the Federal Aviation Administration (FAA) drone sales are expected to grow from 2.5 million units in 2016 to 7 million in 2020. PWC Global has calculated that the overall emerging global market for business services using unmanned aircraft is over $127 billion. The impact on the insurance industry is expected to be $6.8 billion.

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