Reinsurance aspects of connected automated vehicles: Product Liability and Product Recall Insurance

Fabian Pütz (M.Sc.) (Researcher at Cologne Research Centre for Reinsurance (Director Prof. Stefan Materne) at Cologne University of Applied Sciences (TH Köln) and PhD student and researcher at the Emerging Risk Group of the University of Limerick (Ireland).) |

1. Introduction

Technological progress always has had a strong influence on humans´ mobility behavior. However, since the first automobile revolution initiated by the invention of the combustion engine by Carl Benz in 1886, the technological capability of automobile vehicles was rather affected by evolutionary than by revolutionary developments.

Stating this, recent technological advance in the field of computer, communication and sensor technology makes it feasible that automated driving vehicles become reality in the nearer future. Together with an increasing interconnection of these vehicles, this has a strong direct impetus to the automobile and transportation sector. In addition to these sectors, also downstream businesses will potentially be strongly affected by the progression