The nascent drone insurance market in India is seeing a flurry of activity. After HDFC Ergo, ICICI Lombard, Bajaj Allianz, and Tata AIG, public sector New India Assurance has launched its unmanned aircraft system insurance.

What’s on offer?

Insurance players are now offering drone coverage within the framework set by the Insurance Regulatory and Development Authority of India (IRDAI).

According to the firm, the ‘New India Unmanned Aircraft System (UAS/ UAV/ RPAS/ Drone) Insurance’ will cover large aircraft to solo flying gliders. Coverage will be offered to drone owners, operators, and manufacturers.

“The product provides a diverse option of over 15 different add-on covers for customers to pick and choose from. These add-on covers are designed as per the drone industry’s requirements. The policy covers physical damage to the aircraft and its theft. It also provides cover for accidental physical injury to the third party and/or damage to their property due to the…