NEW TRANSPORT BILL TO BE INTRODUCED TO GET DRIVERLESS CARS INSURED IN UK

The insurance industry has welcomed government plans to promote the development of driverless cars, including making sure appropriate insurance is available for them. During the State Opening of Parliament, the Queen said a Modern Transport Bill would be introduced to get driverless cars insured and on the road. "My ministers will ensure the UK is at the forefront of technology for new forms of technology including autonomous and electric vehicles," the Queen said. Ministers are understood to want driverless cars to be on the roads within four years. Ministers have already launched pilots in London, Bristol, Coventry and Milton Keynes, each receiving £19m ($27.7m) of funding. The Association of British Insurers (ABI) said insurers were already doing work to shape the right insurance framework. A recent study by Swiss Re said new car technologies could cut motor accident frequency by more as much as 6% by 2020 and reduce motor premiums by $20bn worldwide.