How Insurance Markets Will Expand in the Age of Autonomous Vehicles
Posted on Nov 21, 2018 in Insurance Developments and Trends | Comments Off on How Insurance Markets Will Expand in the Age of Autonomous Vehicles
Though it’s estimated that by 2025 auto insurance premiums will drop by $25 billion as a result of the adoption of driverless cars, the insurance market is expected to recover through new lines of coverage, according to a report by market analyst Accenture released last year.
In fact, new coverage lines will generate substantially more premiums than are lost – to the tune of almost $81 billion.
During the recent annual Professional Liability Underwriting Society (PLUS) conference in San Diego, Jamison Narbaitz, senior counsel with Clyde & Co., discussed three areas of insurance that will grow: cybersecurity, products liability and infrastructure.
Read the full analysis.
