Both the auto and insurance industry recognize that there are different levels of autonomy amongst emerging vehicles. Most cars on the road today have little or no automation; for those that do cybersecurity can be a concern. Today’s hackers have the ability to tap into some models of vehicles through the entertainment system and take control of a vehicle.
Additionally, auto manufacturers may experience expanded liability and product risks. The focus on accidents will be on what went wrong with the car itself, not driver error. If the liability shifts from the vehicle owner to the manufacturer, then there may be no need for the liability portion of a traditional commercial or personal auto policy. Insurers may turn their focus to providing more than physical damage or cyber risks in place of liability coverage.
More than 6,000 professionals at Lockton provide 50,000 clients around the world with risk management, insurance, employee benefits consulting, and retirement services that improve their businesses. From its founding in 1966 in
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