The International Drone Racing Association (IDRA) has announced that drone events are now eligible to apply for event liability insurance. After using IDRA’s semi-professional series, 2017 Challengers Cup, as an opportunity to test the liability insurance with partnered event organizers, the company is motivated and excited to expand the coverage to other drone-related events around the globe. IDRA is confident that the service will have a positive impact in helping drone events find applicable and affordable coverage to protect their businesses, pilots, and spectators.
The announcement comes nine months after IDRA’s launch of the first primary liability insurance, with worldwide coverage, for drone pilots and recreational hobbyists. The $1 million policy was offered to IDRA members, whom predominately reside and operate internationally. In the past four months, IDRA experienced a 336% increase, 60% of which accounted in September, of insurance policy and membership sales. The company confidently projects that the upward trend will continue into the holiday season.
“We are excited that IDRA has the opportunity to bring applicable and affordable liability insurance to drone events,” said Justin Haggerty, President and CEO of IDRA. “Organizers need to be able to effectively protect their events, whether that be for education, entertainment, or sport with drone racing. I’m thrilled that IDRA’s CFO, Bonnie Haggerty, was able to get our underwriters behind the expansion. Like our liability insurance for pilots, the more events IDRA can help insure the better we can protect the growth of the drone community.”
UAS/Drone racing is a worldwide sport that utilizes Unmanned Aircraft Systems (UAS) and Virtual Reality (VR) technology to allow a new breed of innovators to compete on the international stage. There are roughly 100 drone competitions in the U.S. annually and 200 worldwide competitions, highlighted by races like 2016 World Drone Prix in Dubai and 2017 Dover Internationals at the Dover International Speedway with NASCAR.
About the International Drone Racing Association
The International Drone Racing Association (IDRA) is a for-profit association founded on the belief that competition drives innovation, and that drone racing is the next evolution of motorsports. IDRA believes in growing this awesome new industry by organizing historic drone racing competitions like the semi-professional Challengers Cup and professional Drone Racing Series. The IDRA’s core mission is to grow this amazing community of tinkerers, dreamers, and innovators.