Questions around liability and insurance are creating uncertainty in the autonomous trucking sector, despite significant market growth.
According to research and consulting firm DataIntelo, the autonomous truck insurance market is anticipated to reach $13.8 billion by 2033, a more than fivefold increase from $2.7 billion in 2024. This growth is fueled by the rising need for customized insurance solutions tailored to the specific risks posed by autonomous technologies.
Recently, the autonomous trucking company Bot Auto obtained a “comprehensive insurance program” through insurance broker Marsh. The coverage includes auto liability, property, general liability, cargo, inland marine protection, and cybersecurity insurance, as mentioned in a release from Bot Auto on November 12.
Financing Developments
The financing landscape for autonomous trucks is starting to take shape, with lenders beginning to investigate options including:
– Asset-backed loans,
– Usage-based financing,
– Full-service leasing structures.
Liability Concerns
Despite advances in technology, liability issues remain unresolved. Ann Rundle, a research analyst with ACT Research, highlighted during a November 18 webinar that it’s unclear whether the original equipment manufacturer (OEM), the technology provider, or the fleet operator would be liable in the event of an accident. The determination of risk responsibility remains uncertain.
Industry experts predict that insurance companies will likely assess liability on a case-by-case basis. Daniel Goff, VP of external affairs at Kodiak AI, emphasized that questions will arise regarding the distinction between vehicle insurance and product liability insurance.
The Role of Data
The capability of autonomous trucks to collect and transmit real-time data could assist insurers in determining liability while also eliminating the need for extensive crash-scene reconstructions. Paul Konasewich, general manager at Paccar, stated that this data stream provides clarity in incidents, enhancing efficiency in legal processes.
Even though advanced data collection may strengthen the insurance framework—and potentially reduce premiums if proven safe—the technology-heavy nature of autonomous trucks raises concerns regarding cyber liability, as noted by insurance lawyer Eryn Brasovan. She cautioned that if the entire vehicle operation relies on computer systems, vulnerabilities to hacking may shift coverage requirements.
