Last week it was announced that Connecticut-based drone manufacturer Aquiline Drones has completed the licensing process to begin writing insurance for itself and its subsidiaries. Aquiline may now assume the risks of its entire group of companies and indemnify not only its own products and services, but also those of its partners and affiliates, and even those of its drone service providers.
Founder and CEO Barry Alexander said Aquiline's goal "has been to build a full-service drone ecosystem" since the beginning. Adding insurance to their list of available services—which already includes drone manufacture, maintenance, repair, and training—brings them one step closer.
The company hopes to expand commercial liability coverage for unmanned aerial vehicles (UAVs) on both a national and global scale. Drones for civilian use have been available only a short number of years, and with the rapid expansion of drones for commercial and personal use, insurance coverage has had to adapt.
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