An Analysis of Economically Efficient Insurance Schemes. for Automated Vehicles. Brandon Xavier Rhodes June 2014 Advised by Professor Alain Kornhauser

Size: px
Start display at page:

Download "An Analysis of Economically Efficient Insurance Schemes. for Automated Vehicles. Brandon Xavier Rhodes June 2014 Advised by Professor Alain Kornhauser"

Transcription

1 An Analysis of Economically Efficient Insurance Schemes for Automated Vehicles Brandon Xavier Rhodes June 2014 Advised by Professor Alain Kornhauser Submitted in partial fulfillment of the requirements for the degree of Bachelor of Science in Engineering Department of Operations Research and Financial Engineering Princeton University

2 I hereby declare that I am the sole author of this thesis. I authorize Princeton University to lend this thesis to other institutions or individuals for the purpose of scholarly research. Brandon Xavier Rhodes I further authorize Princeton University to reproduce this thesis by photocopying or by other means, in total or in part, at the request of other institutions or individuals for the purpose of scholarly research. Brandon Xavier Rhodes - ii -

3 Acknowledgements I would like to first thank my family for being there to support me throughout my Princeton journey and this process in particular. Your guidance has been invaluable. I would also like to thank Allie, whose gestures of support, from cupcakes to words of encouragement, provided me with persistent motivation. Finally, I would like to thank my advisor Professor Alain Kornhauser who inspired my thesis topic. In addition, Professor Kornhauser provided much appreciated guidance throughout my writing and was always available to discuss ideas or concerns I had. Professor Kornhauser, your excitement and passion for automated vehicles is evident both in the discussions we had about my thesis and in your lectures. It s been a pleasure to work with you on this research. - iii -

4 Abstract Automated vehicles have the potential to have a profound impact on the automobile insurance industry. Preliminary research suggests that various automation systems are correlated with a drastic reduction in the frequency of insurance claims. However, American companies have yet to offer unique plans for customers who own vehicles equipped with an automation system, thereby resulting in economic inefficiency. This thesis suggests various insurance schemes that are designed to insure automated vehicles in an economically efficient manner. First, this thesis provides an overview of the automobile insurance industry and an overview of automated vehicles. Afterwards, the dilemma automated vehicles pose to current liability laws is also examined. This is because the legal treatment of vehicles equipped with automation systems will have a significant effect on how they are insured. Next, before offering suggested insurance schemes, the results of a preliminary analysis on the effect of automation systems on insurance claims are examined. The thesis concludes with a theoretical analysis of the impact automation systems will have on various sectors of the economy once they achieve greater market penetration. - iv -

5 TABLE OF CONTENTS Introduction... 1 Chapter 1: Current Automobile Insurance Schemes Basic Monthly Premium 1.2 Pay- As- You- Drive Chapter 2: Probability Models Claim 2.2 Claim Chapter 3: The Legal Dilemma Posed By Automated Vehicles Common Carrier Laws Applied to Automated Vehicles Implications for the Insurance Industry Implications for the Market 3.2 Product Liability Laws Applied to Automated Vehicles Implications for the Insurance Industry Implications for the Market 3.3 Risk- Utility Test Applied to Automated Vehicles Implications for the Insurance Industry Implications for the Market 3.4 Cost of Litigation 3.5 Conclusion Chapter 4: HLDI Research Study Of Crash Avoidance Systems Acura 4.2 Buick 4.3 Mazda 4.4 Mercedes- Benz 4.5 Volvo 4.6 Volvo City Safety Chapter 5: HLDI Research Study Results categorized by Crash Avoidance System Blind Spot Assistance Systems 5.2 Curve Illumination Systems 5.3 Lane Departure Warning Systems 5.4 Forward Collision Warning Systems without Automated Braking 5.5 Forward Collision Warnings Systems with Automated Braking 5.6 Parking Assistance Systems 5.7 Conclusion Chapter 6: Examination of the Availability of Forward Collision Warning System Availability to Consumers 6.2 Manufacturer s Commitment to Offering the Technology - v -

6 Chapter 7: Suggested Insurance Schemes for Vehicles Equipped with Automation Technology Level 0 Automation Technology 7.2 Level 1 Automation Technology 7.3 Level 2 Automation Technology 7.4 Level 3 Automation Technology 7.5 Level 4 Automation Technology Chapter 8: Financial Implications of Passenger Vehicles Equipped with Automation Technology Chapter 9: Conclusion Limitations Technology Legal 9.2 Final Conclusions 9.3 Suggestions For Further Research Chapter 10: Literary Review Bibliography vi -

7 Introduction The notion of cars driving themselves is not a new idea. For sometime, people have fantasized about cars that could drive without human input. The advent of autonomous cars would not only revolutionize the way people travel, but would also revolutionize many industries, resulting in a drastic impact on the global economy. Some of the industries that would be affected include, but are not limited to, car manufacturing, transportation services, and the automotive insurance sector. This paper will focus on the automotive insurance industry. Specifically, it will focus on how to price insurance for autonomous cars. Before one considers how to price insurance plans for autonomous cars it is important to first understand the current progress of the technology and the legal implications of introducing cars that drive without human input. It is also beneficial to consider how insurance companies currently price insurance plans, because aspects of the current pricing method can be used when pricing plans for autonomous cars. Before continuing, it is important to realize that there are varying levels of automation. Thus, the National Highway Traffic Safety Administration (NHTSA) has released a report detailing what defines these levels. The first level is 0. At this level, according to NHTSA (2013), drivers are in complete control of the vehicle and there is no automation (p.5). At level 1, NHTSA (2013) states that the vehicle has functionspecific automation (p.5). In the report, NHTSA mentions some examples of functions at this level such as stability control, cruise control, automatic braking, and lane keeping (p.5). At level 1, the automation technology is classified as driver assistance technology

8 Therefore, the driver is to be in control of the vehicle and maintain full attention while driving. NHTSA asserts that at this level, the driver is not to have both hands off of the wheel and feet off of the pedals at the same time (NHTSA, 2013, p. 5). Level 2 automation involves automation of at least two primary control functions designed to work in unison to relieve the driver of control of those functions. (NHTSA, 2013, p. 5) Thus, at level 2, the driver is able to have both hands off the wheel, feet off of the pedals, and cede control of primary driving functions to the vehicle (NHTSA, 2013, p.5). However, the driver is to maintain alertness and must be ready to take immediate control of the vehicle if necessary (NHTSA, 2013, p.5). Level 3 automation is characterized by vehicles with the capability to enable the driver to cede full control of all safety-critical functions under certain traffic or environmental conditions and in those conditions, to rely heavily on the vehicle to monitor for changes in those conditions requiring transition back to the driver. (NHTSA, 2013, p.5) As in the case of level 2, the driver is to be available for taking control of the vehicle, but a key difference is that the driver has to have a sufficiently comfortable transition time (NHTSA, 2013, p. 5). To achieve this transition time, the vehicle alerts the driver when it is no longer capable of using automation to drive. As NHTSA states, the driver is not expected to monitor the roadway with the same diligence when operating a vehicle with level 3 automation as he or she is expected to use when operating a vehicle with level 2 automation (NHTSA, 2013, p.5). Level 4 is characterized by full automation (NHTSA, 2013, p.5). The vehicle is expected to carry out all aspects of driving for an entire trip whether a driver is present in the vehicle or not (NHTSA, 2013, p. 5). A vehicle system with level 4 automation technology is treated as a system that replaces a human driver. A vehicle with level 4-2 -

9 automation is not expected to drive in circumstances that are not suitable for human drivers, such as severe weather conditions. The goal of autonomous cars is to have these cars drive as if there was human input from the best possible human driver. Therefore, the car would minimize the possibility of having an accident in all situations and would maximize other aspects of driving, such as fuel efficiency. In order to do so, the cars must be able to perceive the world around them as humans do. Thus, the cars will need to be aware of their surroundings, the road conditions, traffic lights, lane markings, and so on. To achieve this objective, autonomous cars use a combination of sensors that include cameras, radar, GPS, and LIDAR to gather the necessary information from the world around them and to use that information to see what is needed to drive in a safe manner. The information collected from the sensors is then sent to computers on board the car to be analyzed by algorithms written to understand the information. Once the information is analyzed, commands are sent to the systems that control the steering, braking, and acceleration of the car so it can operate in the proper manner. For example, a camera mounted onboard the car captures an image of the lane markings on either side of the car, while radar detects an object moving in front of the car. The algorithms recognize the image captured by the camera as lane markings, as another algorithm determines that the object moving in front of the car can be classified as another vehicle. As a result, commands are sent to the system controlling the steering so that the steering wheel moves in a manner that allows the car to remain in the lane. Also, a command is sent to the systems controlling the acceleration of the car, directing it to accelerate enough to keep a safe following distance from the car in front of it. This example is clearly a simplification of the process - 3 -

10 involved. However, it is designed to capture the main idea of one of the key capabilities needed for the autonomous car to function properly. The process of interpreting the information collected by the sensors is very technical in nature and as such, is not the focus of this paper. The success of autonomous cars is only possible through seamless connections among the hardware sensors, the data they collect, and the sophisticated algorithms needed to process that data, determine the appropriate action, and respond properly. The unique hardware necessary for autonomous cars includes sensors to collect information about the surrounding world, along with systems to control basic driving actions, such as acceleration, braking, and steering. Currently, the sensors being used by researchers in this field are a combination of radar, GPS, and LIDAR. Different companies use different combinations of these sensors, and some companies have attempted to forgo using LIDAR. The algorithms that are used to process the information can be grouped into four main categories. These categories are: lane detection, object detection, road analysis, and control of systems involved in basic driving actions. The details of the algorithms and the mathematics involved are beyond the scope of this paper. Consequently, the paper makes the assumption that the algorithms used by the different car companies to program for automation are uniform in their functionality and reliability. This assumption aids in reducing the complexity of pricing the insurance plans, for without this assumption one would need to take into consideration the different limitations of each algorithm used, which may affect the performance of the automated function. At the time this thesis was written, car companies and other players in the field have made significant progress in developing reliable level 4 automated cars. The rapid - 4 -

11 innovation in this technical domain could arguably be traced to the 2005 DARPA Grand Challenge. Since then, automobile manufacturers and other companies have been working at a feverish pace to develop this technology, so that it can be introduced to the public. To aid in the maturation of this technology, select states have legalized testing automated cars on public roadways, after the technology has proven to work reliably on closed test tracks. Google has been the most successful company to date. Google s fleet of cars has driven over 300,000 miles while the technology was operating the vehicles and has yet to experience an accident (Murray, 2012). Google is thus seen as a leader in the effort to achieve level 4 automation. Nevertheless, alongside Google, car manufacturers are working towards generating level 4 automation. Car manufacturers differ from Google in that they offer lower level automation systems as driver assistance options on existing vehicles. Mercedes Benz exemplifies these options in the additional safety features available on new 2014 S and E class sedans. Mercedes Benz has been the leader amongst automotive manufacturers in developing and offering automation technology, but other manufacturers have begun to follow suit. When this research was collected, there were at least 24 car manufacturers that offered at least level 1 automation technology as an option for consumers. The addition of these features has a two-fold impact on automobile insurance. First, it immediately increases the expected safety of each vehicle and thus reduces the expected frequency and severity of claims for any vehicle owner with this technology in place. After there is more market saturation and thus, more data is collected, the insurance industry will be better able to understand the impact of automation systems and consequently, will be able to improve models for vehicles equipped with automation technology. Secondly, this addition allows car - 5 -

12 manufacturers to amass data on the performance of their automation technology, using lower level systems as a baseline point of comparison in preparation for vehicles equipped with higher levels of automation systems. Looking to the future, successful implementation of levels 3 and 4 automation technology will most likely involve the abandonment of LIDAR. LIDAR has been extremely useful and performs very well. However, it is doubtful its success will be implemented in any role greater than as equipment used for testing. While LIDAR is extremely successful and reliable, it is also prohibitively expensive. Currently, the LIDAR Google uses on its fleet of automated cars is approximately $70,000 per unit (Priddle &Woodyard, 2012). In most cases this one piece of equipment is more than the MSRP of current mid range vehicles, and in some cases it is more than the base MSRP of luxury vehicles. Unless there is a severe drop in the cost of LIDAR, it would not be cost effective for car manufacturers to equip onto vehicles. The cost is too high to warrant the technology as an option for consumers, because the cost prevents high market penetration. Because cameras, GPS, and radar units are inexpensive, it is predicted that a combination of these technologies will be used for vehicle systems offered to the public with levels 3 and 4 automation. This thesis will examine the impact automation technology will have on the automobile insurance industry. Automobile insurance has been driver-centric. Insurance companies use historical data to assess the risk of insuring a particular driver. With the advent of automation technology, automobile insurance will have to shift focus away from a predominant emphasis on individual driver performance to an increased emphasis on vehicular performance. Because the importance of the driver compared to the vehicle - 6 -

13 varies amongst automation levels, vehicles equipped with different levels will need to be treated differently by insurance companies. As such, the models used to insure the owner of the vehicle will have to vary accordingly. Level 0 is driven purely by a human driver and thus should have a purely driver-centric model; Level 4 is purely driven by the vehicle and therefore should have vehicle-centric model; and since the driving operations are performed by a combination of the human driver and the vehicle in levels 1 through 3, these models should have a corresponding mixture of driver and vehicle elements. This thesis will examine different methods of insuring vehicles of each level type. In addition, the legal issues automation technology has caused will be discussed. How vehicles with automation technology are treated in the legal system will have a direct impact on how the automobile industry insures them. Finally, to conclude, this thesis will offer suggestions for future research

14 Chapter 1 Current Automobile Insurance Schemes The objective of insurance companies is to maximize expected profits, while minimizing expected losses. To do so, insurance companies pool policyholders with similar characteristics into groups, or risk classes. Each broad risk class is then further subdivided so as to determine a base rate that accurately reflects the level of risk the company is assuming by insuring a member of that group. With regard to automobile insurance, these divisions are made on the basis of, but are not limited to, age, gender, marital status, type of vehicle owned, and zip code. The company then uses information unique to the consumer, such as previous driving record, to determine the specific rate for that policyholder. Insurance companies charge premiums whose total expected sum for the risk pool will be greater than its expected sum of claim payments (Anderson & Brown, 2005, p.2). This differential is achieved by using historical statistics to predict both the estimated number of claims and the expected severity of each claim for the pool. If an insurance company deems a driver to be too high risk, they reserve the right to refuse to voluntarily insure him or her. Insurance companies have adopted various pricing schemes to maximize their expected return. After examining the current schemes used, this paper will address whether a variation of the available schemes should be applied to autonomous cars

15 1.1 Basic Monthly Premium The most basic pricing plan is a monthly premium. Insurance companies take the information they have gathered and determine a monthly price to be paid by customers that maximizes their expected profit. By looking at historical data of drivers with similar characteristics, insurance companies predict the expected cost associated with each new customer. Examples of the descriptive information used by insurance companies when determining the premium to be charged include the applicant s gender, age, marital status, zip code, type of car to be insured, and driving history. The mathematical models most commonly used by insurance companies will be discussed in detail later in the paper. After the applicant supplies this information he or she then can choose from varying levels of coverage. Coverage levels range from the state minimum to the maximum amount of coverage permitted by the company. Another pricing plan is a monthly premium with a deductible. This plan requires the insurance company to only reimburse a policyholder if the cost of the accident exceeded a predetermined threshold (Anderson & Brown, 2005, p.7). If an accident occurs and its expense exceeds the threshold value, the insurance company pays the difference between the cost of the accident and the threshold (Anderson & Brown, 2005, p.7). Typically, the monthly premiums of a plan with a deductible are less than those of a comparable plan without one, thereby incentivizing some policyholders to choose a plan with a deductible (Anderson & Brown, 2005, p.7)

16 1.2 Pay-As-You-Drive A relatively new type of insurance scheme some companies are offering globally is Pay As You Drive (PAYD) insurance. In America, General Motors Acceptance Corporation Insurance is an example of a company that offers a discount for drivers who elect to choose PAYD insurance (Todd Litman, 2005, p.9). Todd Litman (2005) argued that PAYD makes vehicle insurance more actuarially accurate (Abstract). In addition, Litman (2005) asserted that, PAYD pricing is technically and economically feasible, and can provide significant benefits to motorists and society. (Abstract) Thus, PAYD offers consumers the option to have their monthly premium be variable instead of the industry standard of having it be fixed. One option for PAYD pricing is to charge a per mile premium (Todd Litman, 2005, p.1). The premium would be calculated in conjunction with the current risk class assessment used by all automobile insurance companies. This pricing method therefore improves actuarial accuracy because it uses previous data alongside data of how often the vehicle is driven per month (Todd Litman, 2005, p.1). However, a more actuarially accurate option is to use incentive based pricing. Automobile insurance companies would install a device on a policyholder s vehicle that records when the vehicle is driven, the time of day, the miles driven, and driving characteristics such as hard braking and quick accelerations (Iqbal & Lim, 2006, p.5). In fact, Progressive Insurance has experimented with this mode of pricing in the United States by offering their product TripSense to consumers (Iqbal & Lim, 2006, p.3). This method is more actuarially accurate than a per mile method because there is additional information about both the driver and the driving conditions. The recorded speed and the

17 frequency of hard braking and quick accelerations gives insight into whether the driver tends to be more aggressive or defensive. The record on the number of miles driven and the time of day reveal how frequent and how long the driver is in conditions that are known to be of high risk for an accident. The most actuarial accurate option is to use GPS based pricing (Todd Litman, p.1). To achieve this option, automobile insurance companies would either use the GPS system already installed on the vehicle or a GPS unit if the vehicle does not have one already. The use of GPS technology allows insurance corporations to use data on how many miles were driven, where they were driven, and a what time of day they were driven in conjunction with driver data to determine the monthly insurance premium. The new data provided by GPS technology is hugely important, because the risk of an automobile accident is dynamic and changes depending on the multitudinous factors for which the GPS technology provides information. Those factors include whether the vehicle is being driven in an urban or suburban area, at what time of day the vehicle is driven, and how often a vehicle is driven. If a customer elects this option then the insurance company installs a device that monitors the number of miles driven per month. The user then pays a premium on a per mile basis. Some insurance companies have taken this concept even further and offer discounts based on how the customer drives. By collecting additional data such as where one drives, the average driving speed, and the amount of braking force applied, insurance companies can further determine the risk associated with the specific customer. This additional information not only benefits insurance companies, but also drivers that elect this option. Assuming that only a safe driver would elect to have this information about

18 their driving habits collected, he or she would now be able to receive previously unavailable discounts. Thus, these safe driving discounts eliminate excess spending on behalf of the customer, while simultaneously providing additional information on which drivers are riskier than others. While Pay As You Drive insurance seems attractive, especially for low mileage drivers, there are nonetheless privacy concerns associated with it. An insurance company knowing a driver s exact location at any given time is disconcerting for many people. There are the concerns of who will have access to this information, for how long they will have access, and how securely the information will be held

19 Chapter 2 Probability Models 2.1 Claim Automobile insurance companies typically model claim frequency as a Poisson random variable. There are alternative random variables that companies sometimes use to model claim frequency, however. For instance, the negative binomial variable is an alternative that can be implemented (Boucher, Denuit, and Guillen). However, the Poisson distribution will be used in this thesis because it is the most widespread approach to model claim frequency. In addition, the analyses done by the HLDI referenced in chapters 5 and 6 use the Poisson distribution. The equations below define the probability mass function, the expection, and the variance for a Poisson random variable X.!!!! p i = P X = i = e!! E X = λ Var X = λ, i = 0,1, λ > 0 From the equations, it is evident that the accuracy of λ is essential for the insurance companies because it represents both the expected value and variance of the claim frequency. An inaccurate λ could potentially have severe consequences for the profitability of the company. As a result, insurance companies implement sophisticated

20 methods to calculate λ. As stated previously, driver characteristics such as the driver s age, gender, marital status, ZIP code, type of vehicle owned, and previous accident record are used to group drivers of similar characteristics into risk pools. These driver characteristics are then used as explanatory variables in a regression analysis conducted with historical accident data to estimate the appropriate λ for each risk pool of drivers. The complexity and type of regression model implemented varies, and the details of the various types commonly implemented are beyond the scope of this thesis. As a result, the regression model used by the insurance companies is assumed to be the best option available, as the focus of this thesis is not the effectiveness of different regression models, but rather the effectiveness of insurance schemes as applied to automated vehicles. Thus, the research explores the effectiveness of the explanatory variables used in the regression. 2.2 Claim The other component of determining the insurance plan is predicting the accident severity. There is a vast amount of data on automobile accident severity; fortunately, this data is applicable to all levels of automation. The best approach in assessing accident severity has yet to be determined, but modeling it as a Gamma random variable appears to be best available option. In fact, HLDI used a Gamma distribution when they modeled accident severity in their studies on accident avoidance technology (HLDI, 2011). The Gamma random variable X has parameters (α, λ). The density, expectation, and variance of X are given in the equations below

21 f x = λe!!" λx!!! Γ α 0 x < E X = α λ Var X = α λ! To increase the accuracy of the model, there should be distinctions based on location. For example, it is suggested that there be a variable for vehicles registered in suburban areas and one for those registered in urban area because in urban locations one expects to see multiple accidents that are small in financial severity. However, for suburban locations, one anticipates a small number of accidents that are more financially severe. This pattern occurs because the density of vehicles is higher in urban locales while speed limits and congestion prevent the car from reaching high velocities. In contrast, suburban locations experience less vehicle density, and the speed limits are higher. This combination, on average, permits cars to drive faster than vehicles in urban locations; the increase in speed increases the accident severity. While this assertion seems plausible more research should be done to validate it. Insurance companies may also wish to consider separating the predicted accident severity for vehicles with automation technology from those without it. It is suggested to take this measure if corporations see a noticeable trend in the difference of the average severity for vehicles with automation technology compared to the average for those without it. It may be that on average, vehicles with automation technology do not have minor accidents, but tend to have accidents that are very severe. The trend to have severe accidents could be the result of accidents that only result in a catastrophic failure in either

22 the hardware or software. This theoretical phenomenon can only be substantiated after the technology is introduced to the public and sufficient data is gathered. Companies may also consider classifying accident severity by vehicle manufacturer and vehicle type. For example, foreign vehicles are typically more costly to repair compared to their domestic counterparts. In addition, luxury vehicles are typically constructed with more expensive parts and are therefore more expensive to repair after an accident. Insurance companies may also wish to take into account the cost and location of the equipped automation technology when estimating the expected average accident severity. It is highly unlikely that the LIDAR Google is currently using will be implemented in vehicles offered to the public. But, if it were to be used, the LIDAR system costs approximately $70,000 (Priddle & Woodyard, 2012). Clearly, this cost will need to be taken into consideration when predicting accident severity. The location of the technology is also important because if, for instance, it is known that a rear end collision is the most prevalent accident in an urban area and that the vehicle is equipped with expensive sensors on the rear bumper, it is likely that on average when the vehicle is in a collision the sensor will be damaged and need replacement

COLLISION AVOIDANCE FEATURES: INITIAL RESULTS

COLLISION AVOIDANCE FEATURES: INITIAL RESULTS COLLISION AVOIDANCE FEATURES: INITIAL RESULTS Matthew Moore Highway Loss Data Institute USA David Zuby Insurance Institute for Highway Safety USA Paper Number 13-0126 ABSTRACT Objective Analysis examined

More information

Predicted availability of safety features on registered vehicles

Predicted availability of safety features on registered vehicles Bulletin Vol. 28, No. 26 : April 2012 Predicted availability of safety features on registered vehicles Introduction In 2008, the Insurance Institute for Highway Safety (IIHS) estimated the potential benefits

More information

Volvo collision avoidance features: initial results

Volvo collision avoidance features: initial results Bulletin Vol. 29, No. 5 : April 2012 Volvo collision avoidance features: initial results This initial analysis of the effect on insurance claims of 4 crash avoidance features, 2 of which are combinations

More information

AAA AUTOMOTIVE ENGINEERING

AAA AUTOMOTIVE ENGINEERING AAA AUTOMOTIVE ENGINEERING Evaluation of Blind Spot Monitoring and Blind Spot Intervention Technologies 2014 AAA conducted research on blind-spot monitoring systems in the third quarter of 2014. The research

More information

AUTONOMOUS VEHICLE TECHNOLOGY: CONSIDERATIONS FOR THE AUTO INSURANCE INDUSTRY

AUTONOMOUS VEHICLE TECHNOLOGY: CONSIDERATIONS FOR THE AUTO INSURANCE INDUSTRY AUTONOMOUS VEHICLE TECHNOLOGY: CONSIDERATIONS FOR THE AUTO INSURANCE INDUSTRY 2013 Intelligent Transportation Systems (ITS) Technical Meeting Monmouth College John P. Friedman Vice President State Government

More information

California Department of Insurance Informational Hearing on Autonomous Vehicle Insurance Issues Background Paper

California Department of Insurance Informational Hearing on Autonomous Vehicle Insurance Issues Background Paper California Department of Insurance Informational Hearing on Autonomous Vehicle Insurance Issues Background Paper September 15, 2014 I. The California Department of Insurance s Interest in Autonomous Vehicles

More information

Testimony of Ann Wilson House Energy & Commerce Committee Subcommittee on Commerce, Manufacturing and Trade, October 21, 2015

Testimony of Ann Wilson House Energy & Commerce Committee Subcommittee on Commerce, Manufacturing and Trade, October 21, 2015 House Energy & Commerce Committee Subcommittee on Commerce, Manufacturing and Trade, October 21, 2015 Introduction Chairman Burgess, Ranking Member Schakowsky, members of the subcommittee: Thank you for

More information

WHITE PAPER. Improving Driver Safety with GPS Fleet Tracking Technology

WHITE PAPER. Improving Driver Safety with GPS Fleet Tracking Technology Improving Driver Safety with GPS Fleet Tracking Technology 1 How Much Will Unsafe Driving Cost You? Whether you are a small business owner or a fleet manager for a larger organization, it s difficult to

More information

NEW TECHNOLOGY OLD LAW: SOME LEGAL CHALLENGES OF SELF-DRIVING VEHICLES

NEW TECHNOLOGY OLD LAW: SOME LEGAL CHALLENGES OF SELF-DRIVING VEHICLES NEW TECHNOLOGY OLD LAW: SOME LEGAL CHALLENGES OF SELF-DRIVING VEHICLES ROBERT W. PETERSON PROFESSOR OF LAW DIRECTOR, CENTER FOR INSURANCE LAW AND REGULATION SANTA CLARA UNIVERSITY WHAT S IN A NAME? Autonomous,

More information

Mazda collision avoidance features: initial results

Mazda collision avoidance features: initial results Bulletin Vol. 28, No. 13 : December 2011 Mazda collision avoidance features: initial results Three collision avoidance features offered by Mazda appear to be reducing some insurance losses, but the reductions

More information

All About Auto Insurance

All About Auto Insurance All About Auto Insurance The legal responsibility involved when you are in a car accident is extraordinary. Basically, if you hurt someone else while driving, there s no limit to the amount he or she can

More information

Technological revolution in the motor insurance market

Technological revolution in the motor insurance market Technological revolution in the motor insurance market Market differentiation, lower customer acquisition costs and reduced claims are indisputable advantages of using telematics based motor insurance

More information

Automated Vehicles and the Impact on the Insurance Industry. Casualty Actuarial Society Alyce Chow Matt Antol July 15th, 2014

Automated Vehicles and the Impact on the Insurance Industry. Casualty Actuarial Society Alyce Chow Matt Antol July 15th, 2014 Automated Vehicles and the Impact on the Insurance Industry Casualty Actuarial Society Alyce Chow Matt Antol July 15th, 2014 Antitrust Notice The Casualty Actuarial Society is committed to adhering strictly

More information

CHAPTER 2 THE RELATIONSHIP BETWEEN NO-FAULT INSURANCE AND DRIVER BEHAVIOR

CHAPTER 2 THE RELATIONSHIP BETWEEN NO-FAULT INSURANCE AND DRIVER BEHAVIOR -5- CHAPTER 2 THE RELATIONSHIP BETWEEN NO-FAULT INSURANCE AND DRIVER BEHAVIOR Under a traditional tort system, at-fault drivers are liable for the economic and noneconomic damages they inflict on third

More information

Science Fiction to Reality: The Future of Automobile Insurance and Transportation Technology

Science Fiction to Reality: The Future of Automobile Insurance and Transportation Technology Michael R. Nelson Kymberly Kochis October 13, 2015 Science Fiction to Reality: The Future of Automobile Insurance and Transportation Technology INSURANCE AND FINANCIAL SERVICES LITIGATION WEBINAR SERIES

More information

No.2 October 2012. Automotive insight for Members. Stop the Crash! AEB prevents low speed crashes: now part of UK group rating

No.2 October 2012. Automotive insight for Members. Stop the Crash! AEB prevents low speed crashes: now part of UK group rating No.2 October 2012 Automotive insight for Members Stop the Crash! AEB prevents low speed crashes: now part of UK group rating AEB Autonomous Emergency Braking AEB is potentially as important a development

More information

Journal Vol 37 / Issue No.2

Journal Vol 37 / Issue No.2 22 / Motor innovation FEATURE Hybrid, electric and driverless cars: innovation driving change in motor vehicle insurance Motor insurers have had to keep up with rapid developments in the car industry for

More information

top issues An annual report

top issues An annual report top issues An annual report Volume 7 2015 Strategy Potential impacts of automated driver assistance systems (ADAS) and autonomous car technologies on the insurance industry The insurance industry in 2015

More information

Protect your people and profits through driver safety

Protect your people and profits through driver safety SPIREON FLEET & ASSET INTELLIGENCE Protect your people and profits through driver safety Accidents happen. This is especially true for companies operating fleets and employing mobile workforces. In 2013,

More information

Measuring per-mile risk for pay-as-youdrive automobile insurance. Eric Minikel CAS Ratemaking & Product Management Seminar March 20, 2012

Measuring per-mile risk for pay-as-youdrive automobile insurance. Eric Minikel CAS Ratemaking & Product Management Seminar March 20, 2012 Measuring per-mile risk for pay-as-youdrive automobile insurance Eric Minikel CAS Ratemaking & Product Management Seminar March 20, 2012 Professor Joseph Ferreira, Jr. and Eric Minikel Measuring per-mile

More information

Towards Safe and Efficient Driving through Vehicle Automation: The Dutch Automated Vehicle Initiative

Towards Safe and Efficient Driving through Vehicle Automation: The Dutch Automated Vehicle Initiative Towards Safe and Efficient Driving through Vehicle Automation: The Dutch Automated Vehicle Initiative Raymond Hoogendoorn, Bart van Arem, Riender Happee, Manuel Mazo Espinoza and Dimitrios Kotiadis 30

More information

PUBLIC OPINION ABOUT SELF-DRIVING VEHICLES IN CHINA, INDIA, JAPAN,

PUBLIC OPINION ABOUT SELF-DRIVING VEHICLES IN CHINA, INDIA, JAPAN, UMTRI-2014-30 OCTOBER 2014 PUBLIC OPINION ABOUT SELF-DRIVING VEHICLES IN CHINA, INDIA, JAPAN, THE U.S., THE U.K., AND AUSTRALIA BRANDON SCHOETTLE MICHAEL SIVAK PUBLIC OPINION ABOUT SELF-DRIVING VEHICLES

More information

Estimating the effect of projected changes in the driving population on collision claim frequency

Estimating the effect of projected changes in the driving population on collision claim frequency Bulletin Vol. 29, No. 8 : September 2012 Estimating the effect of projected changes in the driving population on collision claim frequency Despite having higher claim frequencies than prime age drivers,

More information

INSURANCE TELEMATICS. Drive well, Pay less! Motor insurance based on the way you drive. Calculate Insurance Premiums

INSURANCE TELEMATICS. Drive well, Pay less! Motor insurance based on the way you drive. Calculate Insurance Premiums NCE TELEMATICS Drive well, Pay less! Motor insurance based on the way you drive Airmax has been at the forefront of Insurance Telematics from the start. Indeed the very concept of black box monitoring

More information

A WIDER SHARING ECOSYSTEM. The pivotal role of data in transport solutions

A WIDER SHARING ECOSYSTEM. The pivotal role of data in transport solutions A WIDER SHARING ECOSYSTEM The pivotal role of data in transport solutions October 2015 A MARKET ON THE MOVE CONTENTS 3 TRANSPORT TRENDS 4 THE ROAD AHEAD 5 TRANSPARENCY LEADS TO TRUST 6 DATA LOCATION AND

More information

SAMPLE VEHICLE FLEET SAFETY & USAGE POLICY

SAMPLE VEHICLE FLEET SAFETY & USAGE POLICY SAMPLE VEHICLE FLEET SAFETY & USAGE POLICY Policy The purpose of this policy is to ensure the safety of those individuals who drive company vehicles and to provide guidance on the proper use of company

More information

Effective: July 10, 1995 Last Revised: August 2, 2010. Rev. 8/2/2010. Policy: Vehicle Use and Driver Responsibilities

Effective: July 10, 1995 Last Revised: August 2, 2010. Rev. 8/2/2010. Policy: Vehicle Use and Driver Responsibilities Effective: July 10, 1995 Last Revised: August 2, 2010 Xavier University Risk Management Flynn Hall ML 7211 Ph (513) 745-2090 Fax (513) 745-2092 XAVIER UNIVERSITY VEHICLE USE AND DRIVER RESPONSIBILITIES

More information

Key Concept 4: Understanding Product Liability Law

Key Concept 4: Understanding Product Liability Law Key Concept 4: Understanding Product Liability Law Suppose that you are the president of a firm making products for sale to the public. One of your worries would be the company's exposure to civil liability

More information

Autonomous Vehicles: Are We Ready For a New Type of Transportation?

Autonomous Vehicles: Are We Ready For a New Type of Transportation? Justin Nguyen Professor Elisa Warford Writing 340 Illumin Assignment April 28 th 2014 Autonomous Vehicles: Are We Ready For a New Type of Transportation? Engineers around the world have been working on

More information

Auto. The Instant Insurance Guide: What To Do If You re In An Accident. Info and tips for buying automobile and motorcycle insurance in Delaware

Auto. The Instant Insurance Guide: What To Do If You re In An Accident. Info and tips for buying automobile and motorcycle insurance in Delaware What To Do If You re In An Accident Stop and keep calm. Do not drive away from an accident. Do not argue with the other driver over the cause. Call an ambulance, if needed. Do what you can to provide first

More information

Auto. The Instant Insurance Guide: Info and tips for buying automobile and motorcycle insurance in Delaware. www.delawareinsurance.

Auto. The Instant Insurance Guide: Info and tips for buying automobile and motorcycle insurance in Delaware. www.delawareinsurance. The Instant Insurance Guide: Auto Info and tips for buying automobile and motorcycle insurance in Delaware From Karen Weldin Stewart, CIR-ML Delaware s Insurance Commissioner 1-800-282-8611 www.delawareinsurance.gov

More information

Automobile Fleet Safety Manual. William Gallagher Associates Automobile Fleet Manual 1

Automobile Fleet Safety Manual. William Gallagher Associates Automobile Fleet Manual 1 Automobile Fleet Safety Manual William Gallagher Associates Automobile Fleet Manual 1 Table Of Contents Mission Statement 3 Company Rules and Regulations 4-5 Driver Qualifications 6 Drivers Licenses 6

More information

What is a definition of insurance?

What is a definition of insurance? What is a definition of insurance? A system of protection against loss in which a number of individuals agree to pay certain sums for a guarantee that they will be compensated for a specific loss. Every

More information

JEREMY SALINGER Innovation Program Manager Electrical & Control Systems Research Lab GM Global Research & Development

JEREMY SALINGER Innovation Program Manager Electrical & Control Systems Research Lab GM Global Research & Development JEREMY SALINGER Innovation Program Manager Electrical & Control Systems Research Lab GM Global Research & Development ROADMAP TO AUTOMATED DRIVING Autonomous Driving (Chauffeured Driving) Increasing Capability

More information

Noncrash fire safety recall losses

Noncrash fire safety recall losses Bulletin Vol. 30, No. 33 : December 2013 Noncrash fire safety recall losses Vehicles with known fire-related defects have significantly higher risk of noncrash fire insurance losses compared with vehicles

More information

Telematics. ARI White Paper / 2014. Driven.

Telematics. ARI White Paper / 2014. Driven. Telematics ARI White Paper / 2014 Driven. Telematics Contents Introduction...2 Telematics Functionality...2 Benefits...3 Challenges...4 How to get started...5 Conclusion...6 References...6 This manuscript

More information

STATEMENT THE ALLIANCE OF AUTOMOBILE MANUFACTURERS APRIL 14, 2016 PRESENTED BY:

STATEMENT THE ALLIANCE OF AUTOMOBILE MANUFACTURERS APRIL 14, 2016 PRESENTED BY: STATEMENT OF THE ALLIANCE OF AUTOMOBILE MANUFACTURERS BEFORE THE: THE HOUSE ENERGY AND COMMERCE SUBCOMMITTEE ON COMMERCE, MANUFACTURING AND TRADE APRIL 14, 2016 PRESENTED BY: MITCH BAINWOL PRESIDENT AND

More information

The Impact Of Measuring Driver And Vehicle Behavior

The Impact Of Measuring Driver And Vehicle Behavior The Impact Of Measuring Driver And Vehicle Behavior Why Businesses are Investing in Fleet Data A Teletrac Whitepaper The Impact Of Measuring Driver And Vehicle Behavior Data has many meanings. Virtually

More information

FMCSA Webinar Nov.18th to Examine Large Truck Crash Fatalities Involving Pedestrians & Bicyclists. New Technology for Better Fleet Management

FMCSA Webinar Nov.18th to Examine Large Truck Crash Fatalities Involving Pedestrians & Bicyclists. New Technology for Better Fleet Management In This Issue: FMCSA Webinar Nov.18th to Examine Large Truck Crash Fatalities Involving Pedestrians & Bicyclists Help Prevent Roadway Accidents involving Pedestrians How to Steer Clear of Accidents with

More information

Opinion Letters in Personal Injury: Perspectives

Opinion Letters in Personal Injury: Perspectives PERSONAL INJURY CONFERENCE 2015 PAPER 5.1 Opinion Letters in Personal Injury: Perspectives These materials were prepared by A. Reza Rafi, Manager Litigation Policy of ICBC, Vancouver, BC, for the Continuing

More information

Collision Avoidance. The car we couldn t crash! The future for drivers. Compare the technologies. research news

Collision Avoidance. The car we couldn t crash! The future for drivers. Compare the technologies. research news special edition volume three, issue two February, 2008 research news Collision Avoidance The car we couldn t crash! During the low speed bumper crash test of the new Volvo, its automatic braking system

More information

Improving Driving Safety Through Automation

Improving Driving Safety Through Automation Improving Driving Safety Through Automation Congressional Robotics Caucus John Maddox National Highway Traffic Safety Administration July 25, 2012 NHTSA s Missions Safety Save lives, prevent injuries and

More information

TECHNICAL APPENDIX ESTIMATING THE OPTIMUM MILEAGE FOR VEHICLE RETIREMENT

TECHNICAL APPENDIX ESTIMATING THE OPTIMUM MILEAGE FOR VEHICLE RETIREMENT TECHNICAL APPENDIX ESTIMATING THE OPTIMUM MILEAGE FOR VEHICLE RETIREMENT Regression analysis calculus provide convenient tools for estimating the optimum point for retiring vehicles from a large fleet.

More information

Impact of Car Sharing, Automated Driver Assistance, Autonomous Cars on Insurance

Impact of Car Sharing, Automated Driver Assistance, Autonomous Cars on Insurance Impact of Car Sharing, Automated Driver Assistance, Autonomous Cars on Insurance Dr. Anand S. Rao Innovation Lead PwC Analytics Mehrad Ahari Insurance Consulting PwC Table of Contents 1. Disruptors to

More information

Driver Performance Solutions from CNA RISK CONTROL

Driver Performance Solutions from CNA RISK CONTROL Driver Performance Solutions from CNA RISK CONTROL Manage your commercial auto risk by driving the desired behaviors Driver behavior affects your commercial auto fleet s performance and your bottom line

More information

insurance auto insurance

insurance auto insurance insurance auto insurance our mission The mission of The USAA Educational Foundation is to help consumers make informed decisions by providing information on financial management, safety concerns and significant

More information

Defendant has a duty to act as a reasonable person would in like or similar circumstances to avoid causing unreasonable risk of harm to others.

Defendant has a duty to act as a reasonable person would in like or similar circumstances to avoid causing unreasonable risk of harm to others. NEGLIGENCE (Heavily Tested) (Write On the Bar): In order for Plaintiff to recover in Negligence, she or he must plead and prove: DUTY, BREACH OF DUTY, ACTUAL CAUSATION, PROXIMATE CAUSATION, AND DAMAGES.

More information

Chapter 11 Auto Insurance in the United States (continued)

Chapter 11 Auto Insurance in the United States (continued) Chapter 11 Auto Insurance in the United States (continued) Overview Compensating innocent motorists who have been injured in auto accidents is an important issue for society. Private insurers are not anxious

More information

Autonomous Vehicles. Considerations for Personal and Commercial Lines Insurers

Autonomous Vehicles. Considerations for Personal and Commercial Lines Insurers Autonomous Vehicles Considerations for Personal and Commercial Lines Insurers Executive Summary Since the early 1960 s the insurance industry has been a major force behind the most significant advances

More information

On the road toward the autonomous truck

On the road toward the autonomous truck On the road toward the autonomous truck Opportunities for OEMs and suppliers Roland Berger Strategy Consultants GmbH Automotive Competence Center January 2015 Introduction Four megatrends will shape and

More information

)LQDQFLDO$VVXUDQFH,VVXHV RI(QYLURQPHQWDO/LDELOLW\

)LQDQFLDO$VVXUDQFH,VVXHV RI(QYLURQPHQWDO/LDELOLW\ )LQDQFLDO$VVXUDQFH,VVXHV RI(QYLURQPHQWDO/LDELOLW\ ([HFXWLYH6XPPDU\ %\ 3URI'U0LFKDHO*)DXUH//0 DQG 0U'DYLG*ULPHDXG Maastricht University and European Centre for Tort and Insurance Law (ECTIL) Final version

More information

University Fleet Services

University Fleet Services University Fleet Services Policies and Procedures May 2008 Contents Assignment and use of vehicles................. 2 Definition of personal use...................... 2 Driver requirements...........................

More information

FELA Railroad Injuries

FELA Railroad Injuries FELA Railroad Injuries Mark A. Anderson Contents FELA and the Legal Rights of Injured Railroad Workers...1 Cases Eligible Under FELA...2 The Railroad Company's Liability...4 Dealing With Your Employer

More information

Measuring Crash Avoidance System Effectiveness with Insurance Data

Measuring Crash Avoidance System Effectiveness with Insurance Data www.iihs.org Measuring Crash Avoidance System Effectiveness with Insurance Data 2013 Government/Industry Meeting Washington, DC January 30, 2013 Matthew Moore, Vice President, HLDI The Insurance Institute

More information

Highway Loss Data Institute Bulletin

Highway Loss Data Institute Bulletin Highway Loss Data Institute Bulletin Pedestrian-Related Bodily Injury Liability Claim Frequencies, Hybrids versus their Conventional Counterparts VOL. 28, NO. 12 SEPTEMBER 2011 INTRODUCTION Hybrid vehicles

More information

PROFESSIONAL LIABILITY INSURANCE COVERAGE

PROFESSIONAL LIABILITY INSURANCE COVERAGE Management Advisory 2002,Victor O. Schinnerer & Company, Inc. The information presented here is for risk management guidance. It is not legal advice nor should it be construed to be a determination on

More information

ZacharLawFirm.com (602) 494-4800 Page 1

ZacharLawFirm.com (602) 494-4800 Page 1 There are countless drivers across the state of Arizona that are uninsured or underinsured. In fact, it is estimated that one (1) out of every five (5) drivers on the road is driving without insurance.

More information

A Shopping Tool for. Automobile Insurance. Mississippi Insurance Department

A Shopping Tool for. Automobile Insurance. Mississippi Insurance Department Automobile Insurance Mississippi Insurance Department 1 2014 National Association of Insurance Commissioners All rights reserved. National Association of Insurance Commissioners Insurance Products & Services

More information

Insurance & Liability Breakout Session - TRB Symposium July 2015 Insuring Autonomous Vehicles Changes? Challenges? Opportunities?

Insurance & Liability Breakout Session - TRB Symposium July 2015 Insuring Autonomous Vehicles Changes? Challenges? Opportunities? Insurance & Liability Breakout Session - TRB Symposium July 2015 Insuring Autonomous Vehicles Changes? Challenges? Opportunities? 1 2 Earliest Form of Autonomous Transportation 3 More Recent Autonomous

More information

Automobile Insurance Guide

Automobile Insurance Guide Automobile Insurance Guide Page 1 Simply stated, automobile insurance is a contract between you and your insurance company that protects you against financial loss if you are in an accident. Auto policies

More information

TENDERING CLAIMS UNDER YOUR CGL INSURANCE POLICY By Nick M. Campbell, Esq. GREEN & CAMPBELL, LLP. A. History of Commercial Liability Policies

TENDERING CLAIMS UNDER YOUR CGL INSURANCE POLICY By Nick M. Campbell, Esq. GREEN & CAMPBELL, LLP. A. History of Commercial Liability Policies TENDERING CLAIMS UNDER YOUR CGL INSURANCE POLICY By Nick M. Campbell, Esq. GREEN & CAMPBELL, LLP Please note that this article is only intended to provide some general educational information regarding

More information

Automobile Insurance in Pennsylvania a supplement to the Automobile Insurance Guide

Automobile Insurance in Pennsylvania a supplement to the Automobile Insurance Guide and answers about Automobile Insurance in Pennsylvania a supplement to the Automobile Insurance Guide My automobile policy was canceled because I did not pay my premium on time. Is this legal? Yes. If

More information

What GPS Will Do for You in 2015: the Future of Fleet Tracking

What GPS Will Do for You in 2015: the Future of Fleet Tracking What GPS Will Do for You in 2015: the Future of Fleet Tracking GPS systems confer a competitive advantage on companies that use them for fleet vehicles. Fleet managers who use GPS systems to track drivers

More information

Does the Federal government require them? No, the Federal government does not require manufacturers to install EDRs.

Does the Federal government require them? No, the Federal government does not require manufacturers to install EDRs. EDR Q&As THE BASICS What is an EDR? What is its purpose? An Event Data Recorder (EDR) is a function or device installed in a motor vehicle to record technical vehicle and occupant information for a brief

More information

Steering Clear of Liability: Motor Vehicle Report (MVR) Checks for Employee and Student Drivers

Steering Clear of Liability: Motor Vehicle Report (MVR) Checks for Employee and Student Drivers Risk Research Bulletin Steering Clear of Liability: Motor Vehicle Report (MVR) Checks for Employee and Student Drivers Those who drive on behalf of your institution both employees and students help expand

More information

RATING INFORMATION NEW JERSEY

RATING INFORMATION NEW JERSEY PERSONAL AUTO PP 03 75 07 09 RATING INFORMATION NEW JERSEY Your auto has been classified under a six digit numerical code (for example, 8110) as indicated on the policy Declarations Page. The information

More information

UNION COLLEGE MOTOR VEHICLE POLICY

UNION COLLEGE MOTOR VEHICLE POLICY UNION COLLEGE MOTOR VEHICLE POLICY October 2015 1 TABLE OF CONTENTS Section Title I. Scope II. III. IV. Eligibility and Authorization Procedures Reserving a Fleet Vehicle Passengers V. Vehicle Use/Fleet

More information

Autonomous Vehicles. Considerations for Personal and Commercial Lines Insurers

Autonomous Vehicles. Considerations for Personal and Commercial Lines Insurers Autonomous Vehicles Considerations for Personal and Commercial Lines Insurers Executive Summary Since the early 1960 s the insurance industry has been a major force behind the most significant advances

More information

REPORT EXTRACTS RELATING TO THE RECOMMENDATION FOR INSURANCE PREMIUM TAX RELIEF ON TELEMATICS MOTOR INSURANCE FOR YOUNG DRIVERS

REPORT EXTRACTS RELATING TO THE RECOMMENDATION FOR INSURANCE PREMIUM TAX RELIEF ON TELEMATICS MOTOR INSURANCE FOR YOUNG DRIVERS REPORT EXTRACTS RELATING TO THE RECOMMENDATION FOR INSURANCE PREMIUM TAX RELIEF ON TELEMATICS MOTOR INSURANCE FOR YOUNG DRIVERS In order to meet Treasury s consultation timetable for budget proposals,

More information

top issues An annual report

top issues An annual report top issues An annual report Volume 5 2013 Strategy: Reshaping auto insurance The insurance industry in 2013 FPO Strategy: Reshaping auto insurance Several factors aimed at road and vehicle safety are increasingly

More information

AUTO INSURANCE OUR MISSION IS YOU. AUTOMOBILE INSURANCE. www.afi.org

AUTO INSURANCE OUR MISSION IS YOU. AUTOMOBILE INSURANCE. www.afi.org AUTO INSURANCE OUR MISSION IS YOU. AUTOMOBILE INSURANCE www.afi.org Our Mission Like those who serve our nation, AFI is dedicated to delivering protection and peace of mind. Our unwavering commitment to

More information

WHAT ATTORNEYS AND CLAIMS ADJUSTERS REALLY NEED TO KNOW ABOUT COLLISION INVESTIGATION 2 nd Edition

WHAT ATTORNEYS AND CLAIMS ADJUSTERS REALLY NEED TO KNOW ABOUT COLLISION INVESTIGATION 2 nd Edition WHAT ATTORNEYS AND CLAIMS ADJUSTERS REALLY NEED TO KNOW ABOUT COLLISION INVESTIGATION 2 nd Edition Robert E. Stearns, B.S., ACTAR #661 Kinetic Energy Press Rocklin, California Copyright 2007, All Rights

More information

Chapter Two Liability Coverage

Chapter Two Liability Coverage Chapter Two Liability Coverage How Does a Business Become Liable for Injuries to Others? When we say a business is liable for injuries to others, we mean that they are legally responsible for them. It

More information

INSURANCE BASICS (DON T RISK IT)

INSURANCE BASICS (DON T RISK IT) INSURANCE BASICS (DON T RISK IT) WHAT IS INSURANCE? Risk management tool that limits financial loss due to illness, injury or damage in exchange for a premium Shared Risk- Insurance company collects premiums

More information

Session 2 UBI - Telematics in Motor Insurance. David Dou, FCAS

Session 2 UBI - Telematics in Motor Insurance. David Dou, FCAS Session 2 UBI - Telematics in Motor Insurance David Dou, FCAS UBI - Telematics in Motor Insurance David Dou Co founder, Carbox November 16, 2016 UBI - Telematics in Motor Insurance Background of Telematics

More information

Auto Accident Rights & Responsibilities

Auto Accident Rights & Responsibilities For over 100 years people in Connecticut have relied on the law firm now known as. Today, the law firm s Connecticut injury attorneys focus their experience and resources on helping injured people recover

More information

Auto Insurance for New Mexico s Young Drivers

Auto Insurance for New Mexico s Young Drivers Auto Insurance for New Mexico s Young Drivers Prepared for New Mexico s Young Drivers and Their Parents by: One of the major events in many people s lives is earning the privilege of driving a motor vehicle.

More information

A PRELIMINARY ANALYSIS OF REAL-WORLD CRASHES INVOLVING SELF-DRIVING VEHICLES

A PRELIMINARY ANALYSIS OF REAL-WORLD CRASHES INVOLVING SELF-DRIVING VEHICLES UMTRI-2015-34 OCTOBER 2015 A PRELIMINARY ANALYSIS OF REAL-WORLD CRASHES INVOLVING SELF-DRIVING VEHICLES BRANDON SCHOETTLE MICHAEL SIVAK A PRELIMINARY ANALYSIS OF REAL-WORLD CRASHES INVOLVING SELF-DRIVING

More information

Tips and Technology For Bosch Partners

Tips and Technology For Bosch Partners Tips and Technology For Bosch Partners Current information for the successful workshop No. 04/2015 Electrics / Elektronics Driver Assistance Systems In this issue, we are continuing our series on automated

More information

ARIZONA AUTO INSURANCE APPLICATION. Nevada General Insurance Company UNDERWRITTEN BY NEVADA GENERAL INSURANCE COMPANY Transmittal Date/Time:

ARIZONA AUTO INSURANCE APPLICATION. Nevada General Insurance Company UNDERWRITTEN BY NEVADA GENERAL INSURANCE COMPANY Transmittal Date/Time: ARIZONA AUTO INSURANCE APPLICATION Nevada General Insurance Company Transmittal Date/Time: Policy Number: Program: Valu APPLICATION INFORMATION Named Insured and Mailing Address PRODUCER Producer Code

More information

Auto Insurance in the Era of Autonomous Vehicles

Auto Insurance in the Era of Autonomous Vehicles Auto Insurance in the Era of Autonomous Vehicles 24 th Annual Insurance Issues Conference Automobile Insurance in the Era of Autonomous Vehicles KPMG U.S. recently published two documents on Automobile

More information

Automobile Insurance 1

Automobile Insurance 1 FCS7020 Automobile Insurance 1 Nayda I. Torres and Josephine Turner 2 An automobile is often the most expensive property that people own, next to a home. As a result, protection against loss of an automobile

More information

Enabling safer, more efficient and environmentally friendly fleets. Zurich Fleet Intelligence

Enabling safer, more efficient and environmentally friendly fleets. Zurich Fleet Intelligence Enabling safer, more efficient and environmentally friendly fleets Zurich Fleet Intelligence Zurich Fleet Intelligence: enabling safer, more efficient and environmentally friendly fleets Whether you operate

More information

Existing safety technology is the driverless vehicle already here? Matthew Avery Safety Research Director

Existing safety technology is the driverless vehicle already here? Matthew Avery Safety Research Director Existing safety technology is the driverless vehicle already here? Matthew Avery Safety Research Director Automotive Safety Primary vs Secondary Safety Primary Safety Secondary Safety Tertiary Safety Pre-crash

More information

CONSUMER S GUIDE TO AUTO INSURANCE

CONSUMER S GUIDE TO AUTO INSURANCE CONSUMER S GUIDE TO AUTO INSURANCE The Colorado Division of Insurance prepares this booklet to assist you in shopping for auto insurance and to help you understand your Personal Auto Policy. When shopping

More information

v. Record No. 080751 OPINION BY JUSTICE BARBARA MILANO KEENAN June 4, 2009 LOUIS N. JOYNES, II, ET AL.

v. Record No. 080751 OPINION BY JUSTICE BARBARA MILANO KEENAN June 4, 2009 LOUIS N. JOYNES, II, ET AL. PRESENT: All the Justices LEO WILLIAMS v. Record No. 080751 OPINION BY JUSTICE BARBARA MILANO KEENAN June 4, 2009 LOUIS N. JOYNES, II, ET AL. FROM THE CIRCUIT COURT OF THE CITY OF PORTSMOUTH Dean W. Sword,

More information

Wisconsin Department Intelligent Transportation Systems (ITS) CHAPTER 7 CRASH INVESTIGATION SITES

Wisconsin Department Intelligent Transportation Systems (ITS) CHAPTER 7 CRASH INVESTIGATION SITES CHAPTER 7 CRASH INVESTIGATION SITES December, 2000 7. Crash Investigation Sites (CIS) 7.1. Introduction and Usage The idea of "crash investigation sites" or areas outside of the freeway mainline where

More information

REAL-WORLD PERFORMANCE OF CITY SAFETY BASED ON SWEDISH INSURANCE DATA

REAL-WORLD PERFORMANCE OF CITY SAFETY BASED ON SWEDISH INSURANCE DATA REAL-WORLD PERFORMANCE OF CITY SAFETY BASED ON SWEDISH INSURANCE DATA Irene Isaksson-Hellman If P&C Insurance Sweden Magdalena Lindman Volvo Car Corporation Sweden Paper Number 15-0121 ABSTRACT The number

More information

Insuring the corporate car

Insuring the corporate car Insuring the corporate car Insuring the corporate car Resource kit 90134 By Dan Corbin, CIC, CPCU, LUTC The executive officer and owner of a corporation is trying to decide how to title and insure his

More information

NAIC Consumer Shopping Tool for Auto Insurance

NAIC Consumer Shopping Tool for Auto Insurance NAIC Consumer Shopping Tool for Auto Insurance Need Auto Insurance? Here is What You Need to Know. Whether you are buying auto insurance for the first time, or shopping to be sure you are getting the best

More information

Association of Trial Lawyers of America New Jersey Personal Injury Trials: Turning the Tide Seminar

Association of Trial Lawyers of America New Jersey Personal Injury Trials: Turning the Tide Seminar USING TRUCKING REGULATIONS TO TURN THE TIDE IN TRUCKING CASES Association of Trial Lawyers of America New Jersey Personal Injury Trials: Turning the Tide Seminar Steven C. Laird John M. Cummings LAW OFFICES

More information

Vehicle Accident Prevention and Safety Policy

Vehicle Accident Prevention and Safety Policy Vehicle Accident Prevention and Safety Policy Policy Type: Administrative Responsible Office: Insurance and Risk Management Initial Policy Approved: 12/06/12 Current Revision Approved: 12/06/12 Policy

More information

Autonomous Vehicles & the Insurance Industry - Mike Stienstra, FCAS MAAA

Autonomous Vehicles & the Insurance Industry - Mike Stienstra, FCAS MAAA Autonomous Vehicles & the Insurance Industry - Mike Stienstra, FCAS MAAA 2013 CAS Annual Meeting Minneapolis, MN 1 Autonomous Car Developments 2013 - Google surpasses 500K miles - Oxford creates a $7,750

More information

IN THE HIGH COURT OF AUSTRALIA -T-UL-L-Y-

IN THE HIGH COURT OF AUSTRALIA -T-UL-L-Y- n IN THE HIGH COURT OF AUSTRALIA -T-UL-L-Y- V. b e a c h...a n d. o t h e r s REASONS FOR JUDGMENT t u l l y v. BEACH AND OTHERS - JUDGMENT (o r a l ). JUDGMENT OF THE COURT DELIVERED BY DIXON C.J. COMM:

More information

The City University of New York. Revised April 2010. Table of Contents

The City University of New York. Revised April 2010. Table of Contents The City University of New York FLEET MANAGEMENT POLICY Revised April 2010 Table of Contents PAGE I. INTRODUCTION AND STATEMENT OF POLICY 2 II. VEHICLE SAFETY PROGRAM 2 A. Minimum Requirements for Operating

More information

Your Guide to Auto Insurance Premiums

Your Guide to Auto Insurance Premiums INSURANCE FACTS for Pennsylvania Consumers Your Guide to Auto Insurance Premiums 1-877-881-6388 Toll-free Automated Consumer Line www.insurance.state.pa.us Pennsylvnaia Insurance Department Website Required

More information

A Shopping Tool for. Automobile Insurance. Mississippi Insurance Department

A Shopping Tool for. Automobile Insurance. Mississippi Insurance Department A Shopping Tool for Automobile Insurance Mississippi Insurance Department 1 A Shopping Tool for 2014 National Association of Insurance Commissioners All rights reserved. National Association of Insurance

More information

Amotor vehicle accident results in two separate and distinct claims the bodily injury

Amotor vehicle accident results in two separate and distinct claims the bodily injury Wayne Howell, PLLC Basic Property Damage Information Amotor vehicle accident results in two separate and distinct claims the bodily injury claim, for which you generally engage an attorney, and the property

More information

Do You Have a Case? Truck Accident. ebooklet. Andrew Miller. 201 South 3rd Street Logansport, IN 46947 P: (574) 722-6676. www.starrausten.

Do You Have a Case? Truck Accident. ebooklet. Andrew Miller. 201 South 3rd Street Logansport, IN 46947 P: (574) 722-6676. www.starrausten. Do You Have a Case? Truck Accident ebooklet Andrew Miller 201 South 3rd Street Logansport, IN 46947 P: (574) 722-6676 www.starrausten.com Disclaimer No attempt is made to establish an attorney-client relationship

More information