Insurance sector "still in the game" to cover driverless cars - Insurance Age

The legal and regulatory framework needs updating to meet the demands of autonomous vehicles, according to David Powell, head of non-marine underwriting at Lloyd's Market Association. At a lecture at Lloyd's of London on 11 January, Powell highlighted that significant changes to the insurance industry are imminent. "The government is keen to embrace incoming technology and it doesn't want anything, including insurance issues, to get in the way of this," Powell stated. This was made evident when the Chancellor of the Exchequer Philip Hammond delivered his Budget statement in Parliament on 22 November last year. At the time Hammond said there were "good reasons to pursue this technology" and that the government would step up its support and investment.