Weekly News Roundup – 20th October

This week’s news seems to be all about cars. Cars that are unsalvageable following the Luton Airport fire. Cars (namely electric ones) that are driving up insurance premiums. Cars that can self-drive and could save the NHS up to £23bn. Park yourself in a comfy chair and get up to speed, before you get too tyre-d…

Axa urges action to define self-driving liabilities (Source: Insurance Today)
Axa UK analysis found that self-driving vehicles could save the NHS up to £2.3bn every year in medical and ambulance costs associated with crashes on UK roads.

Insurance costs could cripple European electric car sales (Source: Forbes)
Pricey parts that aren’t readily available and fewer mechanics who are skilled in battery electric vehicles are driving up insurance premiums.

Vehicles in Luton Airport fire ‘unlikely’ salvageable as insurance update issued (Source: Insurance Times)
The blaze, which took place earlier this month, is said to have damaged nearly 1,500 vehicles.

Cybercriminals upping “big-game hunting” tactics for major extortions (Source: Insurance Business Magazine)
According to the Resilience’s Midyear 2023 Claims Report, “cybercriminals are setting their sights on larger targets, specifically organisations with sensitive data that can meet larger ransom demands. Recent instances include cyberattacks on major entities like MGM Resorts and Caesars Entertainment.”

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