Insurance Regulatory and Development Authority of India
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.
Chief General Manager (Non-life)