The Travelers Institute, the public policy division of The Travelers Companies, Inc. has released its position paper “Insuring Autonomy: How Auto Insurance Will Lead Through Changing Risks” in Canada. The paper presents the company’s assessment of how the existing auto insurance structure can be leveraged for autonomous vehicles (AV).
“Travelers has a long history of supporting innovation within the transportation industry, and we hope to contribute to thoughtful discussions about the future of AVs in Canada,” said Joan Woodward, President of the Travelers Institute and Executive Vice President of Public Policy at Travelers. “With the right regulatory framework – informed by insurers and other key stakeholders – we believe that AV technology has the potential to reduce the number of accidents, injuries and lives lost on our roads.”
The position paper’s recommendations, as well as the status and future of AVs in Canada, will be discussed during a webinar hosted by the Travelers Institute on Tuesday, Oct. 5, at 2 p.m. ET. The Honourable Stan Cho, Associate Minister of Transportation for the Government of Ontario, will provide welcoming remarks. Woodward will then moderate a virtual panel featuring:
“This pivotal moment in the history of transportation is our chance to reimagine mobility and support the long-term resiliency of Ontario’s thriving auto sector,” said Minister Cho. “Our government is committed to exploring and removing barriers to adopting new technology in the transportation sector while continuing to keep safety for drivers, pedestrians and all road users a top priority.”
The Travelers Institute position paper offers guidance on how to adapt the existing auto insurance system for AVs, including:
To download the position paper, please visit the Travelers Canada website.
Scan here to download the app