Autonomous Vehicles: The Bank of England takes a Prudential View

With Parliament taking a break for the summer we now have to wait until the Autumn for the Bill that will provide the legal underpinning of the changes to UK motor insurance that anticipates the introduction of autonomous vehicles. The notes to the Queen’s Speech in June explain that the main objective of the bill is “to ensure that compensation claims continue to be paid quickly, fairly and easily, in line with longstanding insurance practice.” No doubt the Bill, whenever introduced, is going to be very similar to the Vehicle Technology and Aviation Bill that Alistair discussed when that was introduced in (but did not survive) the last Parliament.

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Legislation for automated driving

The 2016 Queen’s Speech included a “Modern Transport Bill” which was intended to set out the compulsory arrangements for insuring automated driving on UK roads. This title has been shelved and today the Vehicle Technology and Aviation Bill was introduced in Parliament to address this issue.

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