X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
As autonomous cars become more prevalent, insurers will need to answer difficult governance and compliance questions in policies to address scenarios where a bug in an autonomous car’s software, hardware failure, or erroneous decision in an algorithm leads to an accident. (Photo: metamorworks/Shutterstock)

The automotive industry has gone through an enormous upheaval in the last year. Primarily due to COVID-19, worldwide auto sales fell by 16% in 2020. Some countries saw even more significant impacts — in the U.K., new car sales were down 97% in April 2020, and purchases dropped by 29% in November 2020.

ING Group estimates that car sales will rebound by approximately 8% this year. Most experts agree that a significant recovery is likely as economies worldwide move on from the shock of the crisis.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

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 © 2021 ALM Media Properties, LLC. All Rights Reserved.