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Ref. No:IRDAI/NL/ORD/MISC/160/06/2020 Date:24-06-2020
Working Group for insurance of Remotely Piloted Aircraft System(RAPS)/ Drone Technology

 

 

IRDAI/NL/ORD/MISC/160/06/2020 Dated:24th June 2020

 

Sub: Working Group for insurance of Remotely Piloted Aircraft System(RAPS)/ Drone Technology

Drones are emerging as one of the fastest growing technologies and are being used for a variety of purposes. Their numbers are growing rapidly. Drones are playing a significant role in the current COVID 19 situation, assisting various authorities in several activities. There is an immediate need to make available suitable insurance products covering the various risks involved in the use of Drones.

2. In the above backdrop, the Authority has decided to constitute a Working Group as follows:

 

Sr. No.

Name

Designation

Organization

Chairperson / Member

1.

Shri. Anjan Dey

General Manager

The New India Assurance Co. Ltd

Chairman

2.

Smt. Arthi Mathur

General Manager

Oriental Insurance Company Ltd

Member

3.

Shri. Savio Fernandes

Deputy General Manager

GIC Re

Member

4.

Shri. S. Vishwanathan

Head, Commercial Lines Undewriting

SBI General Insurance Company Ltd

Member

5.

Shri. Diptanshookumar

Deputy Vice President

TATA AIG General Insurance Co. Ltd

Member

6.

Shri. T.A. Ramalingam

Chief Technical Officer

Bajaj Allianz General Insurance Company Ltd

Member

7.

Smt. C. Latha

Deputy General Manager

Re-insurance Department, IRDAI,

Member

8.

Shri. Mukesh Kewalramani

Assistant General Manager

Actuarial Department, IRDAI,

Member

9.

Shri. Ajay Kumar

OSD (AGM)

Non-Life Department, IRDAI

Convenor

 

 

3. The Terms of Reference of the Working Group are as under:

      I.        Study and understand the insurance needs of RPAS owners and operators

    II.        Make recommendations relating to design and development of product/s meeting the needs of RPAS owners and operators, including Third Party Liability.

   III.        Make recommendations relating to underwriting of such risks including the re-insurance perspective.

  IV.        To examine any other relevant matter relating to the subject.

 

4.     The Working Group shall submit its report within six weeks of the date of this Order.

 

 

(Yegnapriya Bharath)

Chief General Manager (Non-life)

 

Insurance Regulatory and Development Authority of India. All Right Reserved.