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Driverless cars have been in the news for quite some time. Last September, I speculated in PC 360, an insurance trade magazine, that insurance premiums for autos could decrease by as much as 40% over the next five years as autonomous cars made travel much safer. I increased my estimate to a 75% decrease in insurance premiums by extending the timeline to 15 years. When I wrote those two articles, I remember thinking how much of a personal paradigm shift was needed to accept a driverless car as safe. Now, it appears that driverless buses are in the near future as well.
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An April 2014 Report to Congress found that while catastrophic motor carrier crashes are rare, the costs for resulting severe and critical injuries can exceed $1 million; current insurance limits do not adequately cover these costs, which are primarily due to increases in medical expenses and other crash-related costs.
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The system, which had paid any of the claims to this point, will pay $2 million to cover liability claims up to $3 million. The Rail Runner buys insurance in the private market for claims over that amount.
Read More →The Senate Insurance Committee is considering a bill that would force transportation networks to boost protection for drivers cruising for riders in California.
Read More →Analysis shows that while catastrophic motor carrier crashes are rare, the costs for resulting severe and critical injuries can exceed $1 million.
Read More →The companies selected for the honor represent slightly over 1% of all companies analyzed by the Ward Group.
Read More →Will have access to a variety of risk management tools and resources, such as an exclusive online customer website and automated event recorder technology. Customers will also enjoy specialized claims management services, including accelerated communication, subrogation assistance, and personalized file reviews.
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Transaction provides protection in the unlikely event that the water level reaches designated heights in the New York City Metropolitan Region during any hurricane, tropical cyclone or tropical storm through August 5, 2016.
Read More →Last March, the Riverside County District Attorney’s office filed a criminal complaint against Coach Operator George Bateman and issued an arrest warrant, charging him with one felony count of insurance fraud.
Read More →Program benefits, provided by National Interstate and its affiliate, Safety, Claims and Litigation Services LLC, include access to a variety of risk management tools and resources, including an exclusive online customer website, and accident event recorder technology.
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