PO B OX 899, P INE , C OLORADO 80470 P HONE : 720.208.0844 F AX : 720.208.0845 A Quiet New Milestone In Unmanned Aerial Systems Insurance By: Terry Miller | May 24, 2015 Last week two brand new complete Unmanned Aerial Systems (UAS) were quietly delivered to their new operator. What made this delivery special is that for the first time in history, the UASs were delivered as an all inclusive package including insurance that extended coverage to their new operator. Several weeks ago, Transport Risk Management, Inc. (Transport Risk) was asked by one our manufacturer client's to help them design an insurance program that could be integrated into the product supply chain similar to existing manned aviation sales and leasing programs that are all inclusive in nature. Transport Risk's decades of experience working in the aviation and aviation insurance industries lead us to look at existing programs that have been successfully implemented in the aviation industry as whole. We presented examples and options to our client and eventually settled on a structure that is particularly well suited to both UAS and to the client's corporate structure. From there, we assisted our client with contract language which was agreed upon by the client and their insurer that provided not only an insurable structure but that was also acceptable under the Contractual Liability provisions of the policy and would meet the needs of even the most insurance savvy operators. Last week, that revolutionary new insurance program was implemented by Transport Risk in partnership with the manufacturer allowing them to deliver newly manufactured UAS that included full hull and liability insurance coverage extended to the operator. The operator is a Named Insured and the UAS comes complete with a certificate of insurance and policy endorsement in the operator's name extending coverage to the operator for all of their UAS operations conducted with the aircraft. The program is completely controlled by the manufacturer and does not require the operator to interact with insurers or Transport Risk in any way. The time from the start of program development to policy placement and aircraft additions was about three weeks. We are now in the process of developing technology that will help streamline the program and mechanical processes associated with day-to-day administration. More to come...........

A Quiet New Milestone In Unmanned Aerial Systems Insurance

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PO BOX 899, PINE, COLORADO 80470 PHONE: 720.208.0844 FAX: 720.208.0845

A Quiet New Milestone In Unmanned Aerial Systems Insurance

By: Terry Miller | May 24, 2015

Last week two brand new complete Unmanned Aerial Systems (UAS) were quietly delivered to their new operator. What made this delivery special is that for the first time in history, the UASs were delivered as an all inclusive package including insurance that extended coverage to their new operator.

Several weeks ago, Transport Risk Management, Inc. (Transport Risk) was asked by one our manufacturer client's to help them design an insurance program that could be integrated into the product supply chain similar to existing manned aviation sales and leasing programs that are all inclusive in nature. Transport Risk's decades of experience working in the aviation and aviation insurance industries lead us to look at existing programs that have been successfully implemented in the aviation industry as whole. We presented examples and options to our client and eventually settled on a structure that is particularly well suited to both UAS and to the client's corporate structure. From there, we assisted our client with contract language which was agreed upon by the client and their insurer that provided not only an insurable structure but that was also acceptable under the Contractual Liability provisions of the policy and would meet the needs of even the most insurance savvy operators.

Last week, that revolutionary new insurance program was implemented by Transport Risk in partnership with the manufacturer allowing them to deliver newly manufactured UAS that included full hull and liability insurance coverage extended to the operator. The operator is a Named Insured and the UAS comes complete with a certificate of insurance and policy endorsement in the operator's name extending coverage to the operator for all of their UAS operations conducted with the aircraft. The program is completely controlled by the manufacturer and does not require the operator to interact with insurers or Transport Risk in any way.

The time from the start of program development to policy placement and aircraft additions was about three weeks.

We are now in the process of developing technology that will help streamline the program and mechanical processes associated with day-to-day administration.

More to come...........