Insurance contracts-An insurance policy is a legal contract between the insurance company (the insurer) and the...

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Insurance contracts-"An insurance policy is a legal contract between the insurance company (the insurer) and the person(s), business, or entity being insured (the insured). Reading the policy helps verify that the policy meets the insureds needs and that you understand your and the insurance company's responsibilities if a loss occurs". Welcome to the age of the commercial drone delivery Drones have become incredibly popular in the past few years. With high-end options such as camera, video recording and the ability to carry loads and self-navigate, the use of drones is important for organizations and has become a necessity for various companies across industries. Within the internet-based retail industry, drones are already delivering packages in many countries. Amazon, Google and Switzerland's postal service are using or have begun testing parcel deliveries by unmanned drones. For this project, develop an insurance contract that provides coverage for Package Delivery Drones. Include all the relevant contract sections and provisions. Assessment Criteria: a. Construct an appropriate template for the insurance contract between two parties (Insurer and Company) covering risks arising from the ownership and operation of delivery drones. ILO's A2 and 83. b. Include all the basic parts of an insurance contact and complete the information required to provide comprehensive coverage in the policy. The contract must comprise of at least the following sections: ILO's C1, C2 and D4 i. Declarations i. Definitions ii. Insuring agreement iv. Exclusions v. Conditions. Insurance contracts-"An insurance policy is a legal contract between the insurance company (the insurer) and the person(s), business, or entity being insured (the insured). Reading the policy helps verify that the policy meets the insureds needs and that you understand your and the insurance company's responsibilities if a loss occurs". Welcome to the age of the commercial drone delivery Drones have become incredibly popular in the past few years. With high-end options such as camera, video recording and the ability to carry loads and self-navigate, the use of drones is important for organizations and has become a necessity for various companies across industries. Within the internet-based retail industry, drones are already delivering packages in many countries. Amazon, Google and Switzerland's postal service are using or have begun testing parcel deliveries by unmanned drones. For this project, develop an insurance contract that provides coverage for Package Delivery Drones. Include all the relevant contract sections and provisions. Assessment Criteria: a. Construct an appropriate template for the insurance contract between two parties (Insurer and Company) covering risks arising from the ownership and operation of delivery drones. ILO's A2 and 83. b. Include all the basic parts of an insurance contact and complete the information required to provide comprehensive coverage in the policy. The contract must comprise of at least the following sections: ILO's C1, C2 and D4 i. Declarations i. Definitions ii. Insuring agreement iv. Exclusions v. Conditions.