The level of collaboration between the most prominent UK personal lines Insurers is a clear signal of the potential impact of driver-less cars on the UK Insurance Market.
A similar approach on other emerging risks would no doubt prove beneficial to both Clients and Carriers, and let's hope this is indication of a trend.
As the UK takes a leading role in the autonomous and driverless car race, some of the largest insurance companies in the country have come together to tackle the changes needed to ensure cars are safe and comply with regulations. In total, 11 companies have entered into a joint venture to represent the insurance industry while the central government makes its decisions on how to deploy driverless car technology on British roads. The alliance, led by the Association of British Insurers (ABI) and Thatcham Research (TR), has been formed to consider issues relating to automated driving on UK roads, particularly concerning insurance and liability.