EXCLUSIVE: Mitsui Sumitomo Insurance to Promote Agriculture Drones

Tokyo, Sept. 24 (Jiji Press)–Mitsui Sumitomo Insurance Co. will release an insurance product next month to help relatively small farmers introduce drones for spraying pesticides and fertilizers, people familiar with the matter told Jiji Press on Wednesday. The Japanese insurer will collaborate with two other domestic companies, including drone maker Mazex Co., to sell a package product bundling a drone and damage insurance. The insurance will cover damage from drone crashes and theft as well as damage to third parties due to the mishandling of drones. The package will cost as little as around 700,000 yen if public subsidies are fully used. The three companies aim to sell 500 drones by fiscal 2028. About 3,000 agriculture drones are sold in Japan annually, according to the agriculture ministry. Farmlands sprayed with pesticides by drones topped 1 million hectares annually as of fiscal 2023. The Japanese government promotes the use of agriculture drones to address declining labor forces and to improve work efficiency. END [Copyright The Jiji Press, Ltd.]