For some in the aviation industry, eVTOL aircraft present a door to market expansion, while responding to the imperative to rapidly cut air travel’s impact on the environment. For travelers, they promise more responsive connectivity, allowing them to reach places aircraft have not reached before and at a price point that is competitive with ground transportation. For the insurance industry, meanwhile, they represent a new risk that must be quantified and covered.
This is what prompted insurance group Global Aerospace to announce the formation of its Emerging Technology Unit last month. Under the leadership of Chris Proudlove, the team of underwriters and claims specialists is focused on the product liability and operational risks associated with a broad range of new advanced air mobility (AAM) vehicles and business models, building on the U.S.-based group’s existing involvement in uncrewed aircraft systems (UAS).
