As self-driving fleets hit the streets, what does this mean for insurance?

Acera Insurance’s Crystal Kaustinen spoke with Canadian Underwriter magazine ahead of Loblaws’ move to add 50 autonomous delivery trucks to public roadways in Toronto.

Canadian Underwriter reported that these vehicles must still have a driver in the cab as they deliver groceries and household goods to hundreds of stores in the area.

Kaustinen, Client Executive, Commercial Insurance, noted that this is very much a pilot project the government is closely monitoring, and the conditions that self-driving vehicles can safely navigate is limited.

“They can’t do heavy snowfall. They can’t do quick stopping. It is going to be a problem, especially with that heavy load behind them.” 

Crystal Kaustinen, Client Executive, Commercial Insurance

What is the biggest risk for self-driving fleets?

You might assume accidents would be a top concern, but according to Kaustinen, the biggest risk for autonomous vehicles is likely cyber related. And this risk is not limited to just the threat of cybercriminals taking down an entire fleet.

“What has the fleet owner done to ensure the safety of these vehicles and of other people on the road. [Or, for] the software vendor, did they make mistakes? Is there an error in [an] update?”

Crystal Kaustinen, Client Executive, Commercial Insurance

While cyber liability coverage specifically for self-driving commercial vehicles has yet to enter the market, Kaustinen estimates it won’t take long.

“As this develops, the industry is going to have to grow and adapt to ensure that we’re able to cover these risks.”

Crystal Kaustinen, Client Executive, Commercial Insurance