Tag: autonomous vehicles

A Curious Case of British Columbia’s Ban Amidst US Automation Optimism

Marc
Autonomous Car - BC Ban

While the United States gears up for a driverless future, with expectations set to see fully automated cars by 2025 and beyond, British Columbia takes a surprising detour. The province has instituted a new regulation, effectively banning the use of autonomous vehicles on its roads, raising eyebrows and prompting discussions over safety concerns and the future of the insurance industry. Autonomous Cars – A Green Light in the US, A Red One in BC The cutting-edge narrative of autonomous vehicles—heralded by the U.S. National Highway Traffic Safety Administration (NHTSA) as…

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Warren Buffet says the auto insurance industry will suffer from self-driving cars

G. Turner

The Berkshire Hathaway CEO’s predictions are in direct opposition to previous thoughts on the subject. While most of the auto insurance industry predictions about self-driving cars have had to do with reduced rates, Warren Buffett has taken a different perspective. Instead, the Berkshire Hathaway CEO believes it should be considered a significant threat. The billionaire investor revealed that he feels the launch of the technology will negatively impact car insurers. The reasoning behind Buffett’s prediction is that if autonomous cars are actually safer than traditional vehicles, premiums will tumble. Charging…

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Self-driving cars expected to disrupt the auto insurance market

Logan B.
Self driving car auto insurance

Autonomous vehicles predicted to have a severe impact on the cost of auto insurance Autonomous vehicles could have a major impact on auto insurance premiums in the future. While these vehicles are not yet readily available, insurers already see the potential disruption self-driving cars could have on the market. Self-driving vehicle take human error out of the equation, which is expected to significantly cut down on the number of accidents that are seen on the roads every year. This will lead to a dramatic decrease in auto insurance premiums in…

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