Insurance Regulatory and Development Authority of India

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)

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