Search
 

Liability claims: Emerging technological influences to watch

Liabilities claims are expanding as technology expands. Here are future influences to watch out for.

By Denny Jacob | Updated on April 13, 2017
As technology is infused at greater speeds into the insurance industry, an increasing number of liabilities, such as autonomous driving and 3D printing, will rise as result. (Source: Shutterstock)

Technology’s influence on the insurance industry continues to grow in the age of digitalization. As the industry continues to infuse technology into its practice, it is increasingly susceptible to technological liabilities, such as increasing cyber and product liabilities and recall risks.

Business models in the digital economy are more complex and without clear borders, making liability harder to apportion and claims more complex to settle — despite the frequency of claims expected to decline. The growing “sharing economy” raises new questions about liability. In the future, a road traffic accident could involve the vehicle manufacturer, software provider, and the fleet operator, as well as third parties involved in the accident. 

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.