On June 15, 2020, HDFC ERGO General Insurance Company, the country’s third-largest non-life insurance provider has joined hands with UK based tech firm TropoGo Limited to launch India’s 1st ‘Pay as you Fly’ insurance for drone-owners in India.
‘Pay as you Fly’ insurance:
- This policy, which will be offered on-demand to commercial drone owners and operators, give life insurance for Third Party Liability Claims cover for property damage and bodily injuries that may be happened while conducting activities like survey, mapping, monitoring, disaster relief initiatives, civil administration services, use during festivals & events, property management and travel & tourism purposes among others.
- Members of this policy can claim an insurance cover of up to Rs 10 lakh on TropoGo mobile app & they can opt for 4 hours, one-day, or a one-month cover to insure themselves against third-party liabilities.
Why this cover needed?
- Unmanned aerial vehicles (UAVs) or drones are increasingly being considered or actively used by the state government and the central government in the war against coronavirus (covid-19) in the epidemic as it proving to be very efficient to deliver essential materials like medicines & used for public surveillance, crowd tracking.
- Despite the benefits offered by drones to their commercial users, the protection of third-party assets is still unanswered. To meet this need, the new policy has been introduced.
About HDFC ERGO General Insurance Company Ltd:
MD & CEO– Mr. Ritesh Kumar
Headquarters- Mumbai, Maharashtra
About TropoGo Limited:
Headquarters– South glamorgan, United Kingdom
Founder– Sandipan Sen
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