Several firms have highlighted autonomous vehicles as a potential "risk factor" to their future in recently-released annual reports to the Securities and Exchange Commission (SEC), reports The Guardian .
Prototype version of Google's driverless car
Cincinnati Financial, Mercury General and the Travellers Companies have cited the technological change among their "competitive risks", as well as car parts supplier LKQ Corp, who say that "the number and severity of accidents could decrease, which could have a material adverse effect on our business".
Cincinnati's report states: "Driverless cars or technologies that facilitate ride or home sharing, could disrupt the demand for our products from current customers, create coverage issues or impact the frequency or severity of losses, and we may not be able to respond effectively."
Insurance companies have already had to adapt to crash avoidance systems in recent years which have helped reduce accidents, such as automatic braking and electronic stability control.
Google, Uber and Apple are just a handful of tech giants reportedly linked to self-driving car projects.
However, experts believe that it's too soon for companies to begin worrying about the effects of driverless technology.
A recent Digital Spy poll found that 38% think that it will take more than ten years for driverless cars to be accepted, although 59% said that they would use one.
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via All - Digital Spy - Entertainment and Media News
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