The autonomous vehicle industry is pressing forward, full speed ahead. In addition to providing convenience, safety, and cost-efficiency for passengers, these vehicles stand to completely transform the economic dynamics of the automotive industry. But while autonomous vehicles can lessen the costs of human error, they also can introduce new, potentially crippling technological risks. In turn, the rollout of these new vehicles—along with their concomitant risks—will require a significant revamp of the traditional functions of auto insurance and increase the role of other forms of insurance, such as product liability coverage, business interruption policies, and cyber insurance options.
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