Al-Eqtisadiya, 14 November 2021: Saudi Arabia’s Central Bank has announced it has launched a landmark insurance product for self-driving vehicles.
It is the first insurance product to cover self-driving vehicles and the associated risks.
It has been launched as part of efforts to support the insurance sector in developing and introducing new and innovative insurance products to achieve the objectives of the Financial Sector Development Programme.
It covers self-driving vehicles which can drive themselves from a starting point to a predetermined destination, using various technologies and sensors, including adaptive cruise control, active steering, anti-lock braking systems and GPS technology as well as laser technology, in places qualified and licensed by official authorities to use these types of vehicles.
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