NEW YORK--(BUSINESS WIRE)--As the use of unmanned aircraft systems (UAS), or drones, continues to grow, Allianz Global Corporate & Specialty® (AGCS), Allianz Group’s specialist corporate insurer, has been named a founding member of the newly created UAS Insurance Association (UASIA), an industry group focused on all aspects of insurance, risk management and safety related to the commercial use of UASs.
The mission of the UASIA is to assist the insurance industry in establishing and maintaining best practices and procedures focused on the growing world of UASs in commercial operations. An increase in UAS activity, regulatory uncertainties and concerns about collisions between drones and manned aircrafts present new challenges to the insurance industry. The UASIA provides a voice for those concerns and a vehicle to act on them.
“The potential for UASs to assist in commercial applications is extraordinary and the technology involved is growing exponentially. As a global insurer that has been underwriting aviation risks for over 100 years, AGCS is committed to developing underwriting standards, claims management processes and risk mitigation strategies to assist our clients in navigating this rapidly growing industry,” said James Van Meter, AGCS Aviation Practice Leader.
“As the UAS world moves forward and grows, it is important that the insurance industry has a defined voice in the dialogue and a place at the table,” according to Mark Dombroff, counsel to the Association and Partner at the global law firm Dentons. “All of the founding members of the Association encourage their colleagues in the industry to join them in this important undertaking.”
"Allianz is proud to be a founding member of the UAS Insurance Association and looks forward to continuing to play a major role in the growth of the UAS industry. Our participation in the association will help continue the dialogue with the UAS industry about the value of safety, training, education and sound risk management practices,” added Van Meter.
The other founding members of UASIA include AIG Aviation, Global Aerospace and Transport Risk Management.
About Allianz Global Corporate & Specialty
Allianz Global Corporate & Specialty (AGCS) is the Allianz Group's dedicated carrier for corporate and specialty insurance business. AGCS provides insurance and risk consultancy across the whole spectrum of specialty, alternative risk transfer and corporate business: Marine, Aviation (incl. Space), Energy, Engineering, Entertainment, Financial Lines (incl. D&O), Liability, Mid-Corporate and Property insurance (incl. International Insurance Programs).
Worldwide, AGCS operates in 28 countries with own units and in more than 160 countries through the Allianz Group network and partners. In 2014, it employed more than 3,500 people and provided insurance solutions to more than half of the Fortune Global 500 companies, writing a total of €5.4 billion gross premium worldwide annually.
AGCS SE is rated AA by Standard & Poor’s and A+ by A.M. Best.