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Impact of driverless cars on the insurance market

There will certainly be new insurance markets as a result of driverless cars.

By Ronald L. Kammer | Updated on May 09, 2017

Most people — based upon the publication of accidents involving driverless cars — erroneously believe that driverless cars (sometimes called autonomous vehicles) will increase accidents. In fact, the opposite is true.

According to the National Highway Traffic Administration over 90 percent of auto accidents are caused by human error. So taking control of the car away from the driver, will reduce both the frequency and severity of accidents according to the Institute for Highway Safety and Highway Loss Data Institute (IIHS).

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