Summary: ISO has been working on a new Auto Hacking Expense Coverage form that will be available under the Business Auto, Auto Dealers and Motor Carriers Coverage Forms. An effective date has not been established, nor has ISO yet made a filing for the coverage. A draft of the endorsement and corresponding rule has been released to ISO subscribers for advanced planning purposes.
Background:
With today's auto connectivity and technology advancements, vehicles are now able to communicate and share data with other devices or platforms, such as smartphones, with the installed auto manufacturer's mobile app.
The technology continues to advance, allowing more vehicles to connect to the Internet and with other components and devices in or near the vehicle. Connected car technology can provide many advantages and is anticipated to be at the core of self-driving, aka autonomous, cars. On the flip side, the numerous access points increases the risk of malicious hackers to be able to penetrate the systems and potentially shut down, disrupt, avert or take over a vehicle.
While ISO is not currently aware of real-world malicious auto hacking scenarios, other than what has been discovered through testing and research, there is no doubt that the potential exposure to malicious auto hacking attacks exists to the extent that it represents a significant exposure to be addressed.
Auto Hacking Expense Coverage
For a covered "auto" that you own that is a private passenger type/"private passenger type", light truck or medium truck, which is described in the Schedule and where a premium is shown:
Analysis: