Auto insurance industry to change along with self-driving cars
It is anticipated that the widespread introduction of autonomous cars will make Louisiana travelers safer. However, autonomous cars will be vulnerable to accidents in a different way, and this will lead to a shift in the insurance industry. Since there will be fewer accidents overall, the size of the industry is expected to shrink, but different entities are more likely to be held liable in accidents.
Most accident investigations involve finding out who ran a red light or behaved in another way that led to the crash or determining whether both drivers were partly responsible. However, the investigation into accidents in self-driving cars will focus more on software developers and car manufacturers. As the focus of liability in these accidents, these companies are likely to have more money compared to drivers who cause accidents.
Cars may be vulnerable not only to failure of software or other safety components but also to hacking. Product liability will become a growing focus in the insurance industry.
However, until that day comes, drivers will continue to cause accidents due to behaviors such as speeding and being distracted by a cellphone. The catastrophic injuries that can result from these accidents may be life-changing. People who suffer a traumatic brain injury, for example, might be unable to return to work temporarily or permanently. They may also be facing substantial medical bills, and they might find out that they are not receiving enough money from the insurance company to cover these expenses. If this happens, they might want to talk to an attorney about their options. This could include filing a lawsuit against the driver or other entities responsible for the accident in order to get more compensation.
Tags: Car Accidents