Drone Insurance Will Take Off With New FAA Regulations

The Federal Aviation Administration drone regulations that went into effect Monday are expected to usher in a new and dramatic period of change for the commercial use of unmanned aerial vehicles — one that spells potential profit for insurance professionals. Among other things, FAA Regulations Part 107 removes requirements that a drone operator be a licensed pilot and that a company obtain an FAA 333 exemption, allowing them to legally use drones for a specific task. Such cumbersome requirements took months and often required the hiring of an attorney; in their absence, the barriers for entry are lower and the FAA expects 600,000 commercial drones in the air within a year.