The Wall Street Journal has reported that Car Insurers are facing massive upheavals with the impending introduction of self-drive cars.
Reports have suggested that as much as 80% of the $200 billion US car insurance industry could face dramatic alterations with the introduction of the self-driving technology.
It has also been mooted that the technology could see the current car insurance industry marketplace completely evaporate.
The issue is that self-driving cars create a shift in responsibility from the driver to the car when the self-driving technology is engaged.
With the cars autonomous, self-drive technology engaged which lets it communicate with other vehicles on the road and the foreseen mass reduction in road traffic accidents, the insurance industry would need to react to a lowering of risk and premium prices for insuring these vehicles.
Although the car insurance industry has started making plans over these issues, the changes may come into effect much sooner than has at first been envisaged.
Recent Business Intelligence reports have stated that they expect some 10 million semi-autonomous cars on US roads by 2020.
About Freeman & Co.
Freeman & Co. are a specialist firm of road traffic and criminal defence solicitors based in Manchester but with nationwide coverage.
Freeman & Co. specialise in a wide variety of road traffic cases, ranging from drink driving, speeding and mobile phone offences, to name but a few.
The firm was created by Nick Freeman, who has been dubbed “Mr Loophole” by the press for his technical legal ability and robustly challenging the prosecution.
Nick is well regarded as an expert road traffic lawyer and has successfully represented many high profile clients for a variety of motoring offences as well as criminal offences.
The firm of Freeman & Co. embodies the way Nick works, with minute attention to detail and challenging the prosecution at every turn.
If you are facing a road traffic matter or criminal offence and need the services of Freeman & Co. please call on 0161 236 7007.
Freeman & Co. are available for Police Station attendances and an experienced criminal lawyer is on hand to take your call.
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Freeman & Co Solicitors
8 Oxford Court
Tel. 0161 236 7007