Tokio Marine & Nichido Fire Insurance is selling a drone insurance
Tokio Marine & Nichido Fire Insurance is selling a remote-control drone insurance, a policy covering damage to property and bodily injuries caused by third parties. Insured capital has been set at 100 million JPY (939 600 USD) for individuals. For companies, the coverage may, according to the options selected, amount to 1 billion JPY (9.4 million USD).
This initiative is all the more important that drone insurance has become compulsory in the country. The new requirement has been stipulated by Japan Drone Pilot Association, an organization placed under the supervision of the Ministry of Transport.
According to the afore-mentioned organization, Japan now accounts for 30 drone pilot training schools, a number that will gradually rise to 100 as of 2019. Once the objective has been attained, the number of pilots would amount to 10 000 persons, a real niche to be harnessed by insurers.
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