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Personal auto insurance accounts for 47 percent of non-life insurance global premiums, according to Aon. (Photo: iStock)

(Bloomberg) – Premiums for U.S. auto insurers may drop more than 40 percent once the use of automated vehicles has been fully adopted by 2050 and driving becomes safer, according to insurance broker Aon Plc.

“We as an industry need to act quickly to ensure that we have the products available to align to the new paradigm,” Paul Mang, head of analytics at Aon, said at a press conference in Monte Carlo on Sunday. “Autonomous driving clearly moves the business mix to fleet products and commercial lines.”

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