The Question of Liability in Autonomous Vehicle Crashes
Posted on Apr 18, 2017 in Industry News, Insurance Regulation, Technology Impacting Auto Insurance | Comments Off on The Question of Liability in Autonomous Vehicle Crashes
Despite the ongoing development of autonomous vehicles, and the push to get autonomous vehicles on the road, there are still many questions about who can be held liable in the event of an accident. For example, while a consumer safety group believes that automakers should assume responsibility, automakers have argued that the issue is covered by state insurance laws determining...
Nevada Becomes Latest State to Address Price Optimization
Posted on Feb 7, 2017 in Insurance Regulation | Comments Off on Nevada Becomes Latest State to Address Price Optimization
Nevada’s insurance commissioner recently issued a bulletin relating to price optimization. The bulletin reminds property and casualty insurers that their underwriting and rating models must be filed with the division of insurance for approval. This includes models based on credit information or models using a mathematical algorithm. It also specifically includes “any ‘price...
New Book Recommends Regulators take a Proactive Approach to Driverless Cars
Posted on Jan 24, 2017 in Insurance Regulation | Comments Off on New Book Recommends Regulators take a Proactive Approach to Driverless Cars
In their new book, Driverless: Intelligent Cars and the Road Ahead, Hod Lipson and Melba Kurman state that government must expend considerable resources in crafting meaningful regulation: A driverless license is a good start, but a significant amount more research and exploration of regulatory oversight is needed. Ideally, the highest levels of the government should adopt a proactive,...
Tennessee Introducing Auto Insurance Verification Program
Posted on Dec 29, 2016 in Insurance Regulation | Comments Off on Tennessee Introducing Auto Insurance Verification Program
Tennessee will soon be rolling out an auto insurance verification system to promote compliance with a state law aimed at reducing the number of uninsured drivers. All insurance carriers registered to write personal auto liability policies in Tennessee must register with the Department of Revenue and provide required policy information. The new insurance verification system will check...
Pricing Car Insurance Based on Occupations
Posted on Nov 21, 2016 in Insurance Regulation | Comments Off on Pricing Car Insurance Based on Occupations
The New York Department of Financial Services (DFS) has recently requested information from some insurers about how they relate a customer’s education and occupation to driving, risk, and auto insurance pricing. Actuaries may use information about occupations to price data, and people with jobs that are associated with higher risk may pay more for their insurance. The DFS is...
NHTSA Releases Driverless Car Guidelines
Posted on Sep 20, 2016 in Industry News, Insurance Regulation, Technology Impacting Auto Insurance | Comments Off on NHTSA Releases Driverless Car Guidelines
The National Highway Traffic Safety Administration (NHTSA) has released its highly anticipated guidelines on the regulation of autonomous vehicles. The Federal Automated Vehicles Policy signals NHTSA’s continued support of driverless technology development by promising manufacturers expedited responses to requests for legal interpretations and exemptions. The Policy also confirms...
