Car insurers haul in roughly $230 billion of premiums a year, but much of that intake could evaporate in coming decades as damage liability could shift from the driver to a wider list of providers as control of cars shifts from humans to computers.
“While insurance coverage for (autonomous vehicles) is not mainstream, there are companies that will provide policies,” said Maureen Brown, a vice president with Munich Reinsurance America Inc. Munich Re does insure some “entities that are researching, testing, or developing hardware or software designed to move autonomous vehicle technology forward,” according to the firm. As control of vehicles gradually moves from people to computers, exactly how the liability will shift remains to be determined, insurance brokers say. Uncertainties abound as to how autonomous vehicles will perform on roads with manually operated vehicles, among other things.