On motor insurance, sigma economists point out that our need for mobility has shaped insurance from time immemorial. The upsurge in car usage following World War Two fueled a growth surge in the motor sector which, in turn, led to some tricky issues in respect to liability. This problem, they say, has re-emerged recently in the shape of challenges surrounding the phenomenon of autonomous vehicles.
As sigma relates: back in the early 70's, Walter Diehl - later to become Swiss Re CEO – put his finger on several problems, not least the motorists themselves, their “aggressive driving” habits as well as the “growing greed and carelessness of the citizen under advanced capitalism”. The publication concludes that given the gradual emergence of telematics devices and autonomous vehicles, this reckless driver phenomenon may diminish or eventually disappear. That being said, liability issues will again prove to be a constant in our industry.
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