The overall rise of connectivity to a growing number of physical objects will entail additional emerging risks to individuals and companies. Examples include:
- Unmanned Aerial Systems (UAS or drones)
- Driverless vehicles
- – Trains are already in use in London and New York
- – Self-driving cars may soon become more and more prevalent.
If these technologies are implemented and regulated properly, they can lead to notably higher productivity and standards of living. However, if they are not, and the technologies are carried out on a massive global scale and subject to widespread misuse, the consequences could be catastrophic. This would clearly impact the balance sheets of (re)insurance companies and these possibilities need to be considered if these products are to be insured.
Click here to register to receive e-mail updates >>