Dual Insurance for Driverless Cars?
Posted on Feb 10, 2017 in Insurance Developments and Trends, Technology Impacting Auto Insurance | Comments Off on Dual Insurance for Driverless Cars?
The UK Department for Transport is expected to announce that owners of self-driving cars will be required to take out “two-in-one” insurance policies. These policies would cover the driver if a human is driving the vehicle, and would also cover the car when it is operated in driverless mode. The insurer issuing the policy would then be able to recover costs for claims on driverless...
How Technology May Affect Insurance in 2017
Posted on Jan 11, 2017 in Insurance Developments and Trends | Comments Off on How Technology May Affect Insurance in 2017
Marsh has released a new report on trends anticipated in the United States casualty insurance marketplace in 2017. It noted that the Internet of Things, the sharing economy, and autonomous vehicles will all begin to make major changes to the insurance business in the coming year. In particular, telematics that track vehicle performance and driver behavior may enable insurers to offer...
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...
Insurance Coverage for Self-Driving Cars in Japan
Posted on Nov 16, 2016 in Insurance Developments and Trends, Technology Impacting Auto Insurance | Comments Off on Insurance Coverage for Self-Driving Cars in Japan
A Japanese insurance company will begin offering coverage for accidents involving self-driving vehicles next year. Tokio Marine & Nichido Fire Insurance will provide coverage for vehicles that have automated systems controlling acceleration, steering, or braking, as well as for vehicles that are autonomous enough to require driver input only in emergencies. (The coverage will not...
Facebook and Car Insurance
Posted on Nov 3, 2016 in Insurance Developments and Trends, Technology Impacting Auto Insurance | Comments Off on Facebook and Car Insurance
A car insurer that planned to use Facebook data to set car insurance premiums has had to change its plans after Facebook clarified that such use would violate its privacy guidelines. Admiral Insurance had planned to offer a “first car quote” app to young motorists in the UK. It would analyze Facebook “likes” and posts to determine the driver’s level of risk. The insurer could then...
