• Cybersecurity and Allocation of Liability Are Top Concerns Among Risk Managers
  • July 22, 2016
  • Law Firm: Eversheds Sutherland (US) LLP - Washington Office
  • A recent survey conducted by Munich Re found that, where autonomous vehicles are involved, the top concern for corporate risk managers is cybersecurity. More than half of the corporate risk managers surveyed (55%) named cybersecurity, which included potential hacks into a vehicle’s data system and the failure of “smart road infrastructure,” as their number one concern. Mike Scrudato, head of Munich Re’s mobility operations, pointed out that there is “no real cyber product being purchased in relation to auto today.” Risk managers were also concerned with how to allocate responsibility between autonomous and non-autonomous vehicles, which was the top concern for more than a quarter of participants (27%). According to the survey, companies are largely unprepared for the impacts that autonomous vehicles will have, with approximately 64% having made no preparations.