American International Group Inc. said Wednesday it has won Federal Aviation Administration approval to operate small unmanned aerial vehicles to conduct inspections for risk assessment and management. "The exemption also permits AIG to implement a robust research and development program to explore new and innovative ways to employ UAVs in support of the needs of its customers," AIG said in a statement. UAVs, or drones, can survey disaster areas and take high-resolution images for assessing claims, accelerating the entire process, it said. AIG already has an R&D program in New Zealand, it said. Shares were barely active in premarket trade but are down 1.8% in the year so far, while the S&P 500 has gained 0.9%.
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