Produced by the Emerging Risk & Research team, the report highlights various risks about the area - including privacy, vulnerableity to cyber attacks and the difficulties faced by regulators in attempts to provide ‘strong rigorous oversight’.
Controversial and emerging
Nick Beecroft, manager of the Emerging Risk & Research team, says: ‘Drones have significant potential but at the same time they are a controversial emerging technology. As the market for drones continues to grow, so does the interaction of risk exposures. Manufacturers, operators and regulators will need to work together, on a global basis, to understand exposures and ensure this technology is used safely and responsibly.’
Among the greater risk mitigation measures that insurers may ask drone operators to provide, Lloyd’s includes ‘training and accreditation, strengthening cyber security and the completion of privacy impact assessments’.