NEW YORK — (BUSINESS WIRE) — October 26, 2016 — Allianz Global Corporate & Specialty:
- What: From delivering pizzas to saving lives, drones are becoming a part of our everyday experience. With its podcast debut, “Rise of the Drones,” Allianz Global Corporate & Specialty® (AGCS) drone expert, James Van Meter, addresses emerging risks, regulatory challenges and safety issues related to the explosive growth of drones in both the commercial and public realms.
- Who: James Van Meter, Drone Expert and Aviation Practice Leader for AGCS. Mr. Van Meter is also a licensed pilot, graduate of Embry-Riddle Aeronautical University, attorney, served honorably in the U.S. Marine Corps and is a veteran of Operation Iraqi Freedom.
To listen to the podcast, click here.
- Why: Use of drones or Unmanned Aircraft Systems (UAS) in public airspace is increasing dramatically:
In the U.S.: The FAA projects that by the end of this year, more than 600,000 units will be deployed for commercial use – three times the amount of manned general aviation aircraft. In addition, 1.9 million are expected to be in recreational use; this figure is set to triple by 2020.
Globally: The combined market is forecast to reach 4.7 million units, or higher, by 2020 for industrial inspections, aerial photography, emergency deliveries, agriculture, mining and law enforcement.
With increased drone use comes greater liability risks, privacy issues, cyber-attack fears and other safety concerns. The drone insurance market may reach over $500 million by 2020, according to AGCS.
Additional details are available in the latest AGCS “Rise of the Drones” report.
- When: James is available for interviews to provide additional background and analysis on drones and their effect on the aviation and insurance industries, general commerce and our everyday lives.
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 29 countries with own units and in more than 160 countries through the Allianz Group network and partners. In 2015, it employed more than 5,000 people and provided insurance solutions to more than half of the Fortune Global 500 companies, writing a total of €8.1 billion ($9.2 billion) gross premium worldwide annually.
AGCS SE is rated AA by Standard & Poor’s and A+ by A.M. Best.