Technology Insurers to work with tech firms on risks from drones, driverless cars

18:00  12 october  2017
18:00  12 october  2017 Source:   Reuters

Ottawa nowhere near ready for climate change

  Ottawa nowhere near ready for climate change Ottawa nowhere near ready for climate changeIn her autumn annual reports, Julie Gelfand says Ottawa has not done enough to identify the risks climate change poses to more than $66 billion in physical assets or determine how it can keep providing services to people when a major event takes place.

"New risks are emerging, and existing risks are becoming more complex," the WEF report, written with consultants Oliver Wyman, said. Industry participants also include insurers Allianz and Swiss Re and tech firms Cisco and Hitachi, along with senior officials from governments including the European

LONDON: The World Economic Forum is bringing insurers , tech firms and governments together to find ways to tackle risks from new technology such as drones and driverless cars "The only way we think the whole world can get to grips with what's happening out there is if we all work together."

An aerosol drone during a training at LTFY drone training school on the outskirts of Beijing © REUTERS/Jason Lee An aerosol drone during a training at LTFY drone training school on the outskirts of Beijing The World Economic Forum is bringing insurers, tech firms and governments together to find ways to tackle risks from new technology such as drones and driverless cars, it said on Thursday.

Tech firms have moved fast to develop new products, but assigning liability - who is responsible for any accidents or losses - is not always clear, the WEF said in a report.

Losses from technology-related crime can also be huge. A cyber attack on the U.S. Northeast electrical grid, for example, could cause economic losses as high as $222 billion, according to research carried out for the specialist Lloyd's of London insurance market.

Ford to Slash $14 Billion in Costs, Cut Cars Under New CEO

  Ford to Slash $14 Billion in Costs, Cut Cars Under New CEO Ford Motor Co. will cut $14 billion in costs and drop some car models from its lineup under Chief Executive Officer Jim Hackett, who will focus its future on sport utility vehicles, trucks, electrification and driverless technology. The automaker will target reducing materials costs by $10 billion and engineering outlays by $4 billion over the next five years, according to a statement released Tuesday before an investor briefing in New York. Ford will shift spending toward products like the Ranger midsize pickup and Bronco SUV while axing passenger cars, without naming specific models.

An aerosol drone flies during a training at LTFY drone training school on the outskirts of Beijing, China August 2, 2017. Latest Videos. Popular Articles. Insurers to Work With Tech Firms on Risks From Drones , Driverless Cars .

The WEF holds regional events around the world and publishes research on the global economy. Insurers to work with tech firms on risks from drones , driverless cars . Add a Comment.

"New risks are emerging, and existing risks are becoming more complex," the WEF report, written with consultants Oliver Wyman, said.

"The insurance industry will struggle to use its old playbook to address these emerging risks."

Industry and government officials will look to share data and develop industry standards to make it easier to spot and tackle new risks, and also seek to work out where liabilities lie, the WEF said in a statement.

The initiative will develop at its flagship annual meeting in Davos, Switzerland, in Jan 2018, it said.

"Things are moving very, very rapidly", Inga Beale, chief executive of Lloyd's, one of the industry participants, said.

"The only way we think the whole world can get to grips with what's happening out there is if we all work together."

Industry participants also include insurers Allianz and Swiss Re and tech firms Cisco and Hitachi, along with senior officials from governments including the European Commission, India, Japan, United Kingdom and United States.

The WEF holds regional events around the world and publishes research on the global economy.

(Reporting by Carolyn Cohn. Editing by Jane Merriman)

Wireless charging will make drones always ready to fly .
Drones are great until you realize running all those propellers, a camera, GPS and other assorted technology bits are a real drain on the battery. The WiBotic PowerPad is a three-foot by three-foot landing station that comes with an onboard charger that can be attached to pretty much any drone according to the company. The company says the weather-resistant platform can be mounted pretty much anywhere and can help alleviate the need to handle drones that run automated flights on a regular basis.

—   Share news in the SOC. Networks

Topical videos:

This is interesting!