Live Insurance News

Self-driving car insurance for electric vehicles lacking in the United Kingdom

January 3, 2018January 1, 2018 Marc

Electric car - self-driving car insurance

Axa claims that Great Britain may be lining up to miss out on driverless vehicle technology. A lack of appropriate infrastructure and a shortage of self-driving car insurance is setting up the United Kingdom to face serious challenges if it doesn’t want to get left behind with driverless electric cars, says the Axa insurance company. Autonomous vehicles are facing considerable barriers in the U.K. due to the lack of fast charging bays, among others. Drivers of electric cars are already facing struggles with the fact that there aren’t enough rapid…

Car insurance market will be 70 percent smaller in 2050, study

July 5, 2017July 3, 2017 Marc

A new KPMG report showed that autonomous vehicle technology will have a tremendous impact on this sector. The car insurance market will wither by up to 60 percent by the year 2040 and by 70 percent of its current size by 2050, according to a recent KPMG study. Autonomous vehicle technology will drive the decreasing size of the marketplace, said the report. According to the KPMG research, the reason the car insurance market will fall by about $137 billion by 2050 is because of driverless vehicle tech and ride-share transportation.…

Self-driving cars could have a major impact on the auto insurance space

April 6, 2016April 5, 2016 S.Vagus

Driverless self-driving car Google auto insurance

Report highlights the disruptive potential of self-driving vehicles Self-driving cars may soon become a reality, and they could have a major impact on the auto insurance space. A new report from Moddy’s Investors Services suggests that there are many liability implications for those involved in the development of self-driving vehicles. Both manufacturers and technology suppliers could face significant risks, with consumers likely facing fewer risks as liability shifts away from them. This is because self-driving cars take human error out of the transportation space, which is likely to lead to…

Insurance news of hikes to minimums expected by taxi commission

July 21, 2015July 18, 2015 H. Cutner

The St. Louis Metropolitan Taxicab Commission predicts that the raise will be a sizeable one. A new statement that was released in a letter from the St. Louis Metropolitan Taxicab Commission has revealed the insurance news that they anticipate a rise in the minimum allowable coverage to “significantly increase.” The regulation change follows an accident in which the Techli CEO was badly injured, said the commission. The CEO of Techli, Edward Domain, was involved in an accident and was very hurt. Now, the insurance news that is resulting looks as…

Mobile proof of auto insurance may soon come to Mississippi drivers

March 17, 2015March 14, 2015 H. Cutner

digital electronic mobile proof of auto insurance

Motorists could soon be displaying their liability coverage cards on their smartphones. Drivers in Mississippi may soon be allowed to use their smartphones and other types of electronic device to be able to show their proof of auto insurance, should a new legislative bill be passed. Motorists will be able to display the liability insurance cards on the screens of their mobile devices. If the bill should pass, it will mean that even if motorists have not brought their traditional proof of auto insurance cards with them, it will still…

Auto insurance is a requirement of a new California driver’s license

January 5, 2015January 3, 2015 Julie Campbell

Previously undocumented immigrants in the state will need to satisfy state laws to become legal motorists. A new type of driver’s license is now available in California for undocumented immigrants, but those individuals will be required to obtain auto insurance before they will be able to legally sit behind the wheel on the state’s roads. This coverage requirement already applies to other drivers in the state, but choosing a policy could be confusing. It has been predicted that this sudden surge of auto insurance customers in California could create a…

Liability insurance is causing SC drivers to pay more

June 18, 2014June 18, 2014 G. Turner

The size and frequency of the claims is making coverage more expensive in South Carolina. Drivers in South Carolina are finding that they are paying more than they might have to in other states due to the number and frequency of liability insurance claims that are occurring in the state, and the fact that while those practices are perfectly legal, the current system has placed the state at risk of a certain degree of fraud. There are currently 28 states in which there are not any restrictions when it comes…