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ARTICLE · 30 JULY 2018

How autonomous vehicles will affect the insurance industry

Insurers should consider the impact of driverless cars on negligence, product liability and cyber security insurance.

AustraliaInsurance
Victoria Skeats
Victoria Skeats

In brief - Insurers should consider impact on laws of negligence, product liability and cyber security insurance

Recent research suggests that by 2050 nearly all cars and commercial vehicles will be autonomous to some degree. The predicted inevitability of widespread use of driverless cars raises some significant questions, not the least of which includes what it means for legal liability and insurance coverage.

The New South Wales Government's recent announcement of a new $10 million fund dedicated to expanding its trials of driverless vehicles further serves as a reminder that not only are autonomous vehicles being developed and tested right now, but within a few years they could be on the roads.

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