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US Drone Manufacturer Aquiline the First to Establish Insurance Subsidiary

The Hartford, Connecticut-based Aquiline Drones Corporation has become the first drone Manufacturer in the United States to establish its own insurance subsidiary (ADIC). “Our goal is to introduce various aspects of safety at every level and opportunity in a UAV/drone operations environment, for every drone business or individual operator, in keeping them safe and compliant as well as protecting the general public’s interest,” said Barry Alexander, Founder and CEO of Aquiline Drones (AD).

After four years of incubation, AD was born in January 2019. ADIC was formed recently to suit the parent company’s diverse risk management needs and to assist AD in maintaining profitability by giving tax benefits. With this insurance licence, AD can cover its partners and affiliates as well as take risk for all of its enterprises. This development also allows AD to insure its product and service offerings, as well as the goods utilised by the company’s professional drone service providers all throughout the country.

According to the news release, “creating insurance policies to cover numerous lines of commercial UAV/drone activities that are based on AD’s definitive risk mitigation and management standards” is one of the advantages of the newly formed captive insurance firm. Drone manufacturing and safety instruction are just a few of the operations available, as are cloud-connected drone operations.

In December 2020, AD announced a relationship with Drone Volt, a publicly traded French drone Manufacturer. They bought 50% of drone maker AerialTronics from Drone Volt for $9 million just a few months after. In September 2021, AD purchased ElluminAi Labs to aid in the development of the Spartacus AI framework. In the same month, the firm launched a collaboration with AWARE.

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