Autonomous Vehicles Predicted to Change Car Ownership, Insurance Industry
Pittsburgh is at the epicenter of autonomous vehicle research and testing. Pittsburgh Uber riders are currently being serviced by a fleet of autonomous Volvo vehicles developed in conjunction with Uber's Advanced Technology Center in Pittsburgh. Ford Motor Co. committed to investing $1 billion over five years in Argo AI, a Pittsburgh-based artificial intelligence startup created by Carnegie Mellon University alumni and staff that combines computer science, robotics and artificial intelligence for fully autonomous vehicles that Ford plans to introduce in 2021. Recently, General Motors bought Cruise Automation for $1 billion and is preparing its Cadillac line for even greater automation.
August 30, 2017 at 12:00 AM
7 minute read
Pittsburgh is at the epicenter of autonomous vehicle research and testing. Pittsburgh Uber riders are currently being serviced by a fleet of autonomous Volvo vehicles developed in conjunction with Uber's Advanced Technology Center in Pittsburgh. Ford Motor Co. committed to investing $1 billion over five years in Argo AI, a Pittsburgh-based artificial intelligence startup created by Carnegie Mellon University alumni and staff that combines computer science, robotics and artificial intelligence for fully autonomous vehicles that Ford plans to introduce in 2021. Recently, General Motors bought Cruise Automation for $1 billion and is preparing its Cadillac line for even greater automation.
We are entering a period of momentous change in vehicular travel and use, of comparable magnitude to the introduction of the mass production of automobiles over a century ago. In the fall of 1908, Ford began producing the Model T, the first mass produced self-powered vehicle affordable to the average American. This rapid increase in the ownership and use of automobiles not only grew the automobile industry, it spawned another major industry: automobile insurance. As the ownership and use of autonomous vehicles rapidly expands over the next decades, major changes are in store for the insurance industry. As we have experienced since the introduction of the Model-T, automobile accidents are caused by human error, product defects, natural conditions and road conditions. However, data is showing that the use of semi-autonomous, autonomous vehicles and ride sharing reduces the number of accidents caused by human error. In 2010, the Insurance Institute for Highway Safety (IIHS) estimated that a third of crashes and fatalities could be eliminated if all vehicles had the types of safety features currently available on some passenger vehicles, such as automatic braking systems, blind spot detection and forward collision and lane departure systems. We understand that some insurers offer a drop in premium rates or substantial discounts to encourage people to buy or use cars equipped with these functions.
The National Highway Transportation Safety Administration (NHTSA) has already created a rating basis for automated functions of vehicles:
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
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.
You Might Like
View All
The Growing PFAS Morass: Why Insurance Should Cover These Products Liability Claims
9 minute read
Third Circuit Predicts Pa. High Court's Application of 'Gallagher' and 'Donovan' in 'Mid-Century Insurance v. Werley'
12 minute read
After the Decision in 'Ungarean,' Is the Battle of Insurance Coverage for COVID Losses in Pa. Over?
Trending Stories
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
