The Saudi Central Bank announces the adoption of the first insurance product for self-driving vehicles

The Saudi Central Bank has announced the adoption of the first insurance product to cover self-driving vehicles and the risks associated with them in the Saudi insurance market, in a step that arises as an extension of efforts to support the insurance sector. Develop and introduce new and innovative insurance products; To achieve the objectives of the Financial Sector Development Program.

The central bank explained in a statement today, Sunday, that this product covers self-driving vehicles that can drive themselves from the starting point to a predetermined destination, using various technologies and sensors, including adaptive cruise control, active steering, anti-lock braking systems and GPS technology and laser technology, in places qualified and authorized by official authorities for the use of such self-driving vehicles.

He said this step represents a continuation of the Saudi Central Bank’s efforts to provide innovative insurance solutions to keep pace with the technical and industrial developments that are witnessing significant development in the Kingdom.

The bank added: “It is also in in line with the objectives of the Kingdom’s Vision 2030, guaranteeing its willingness to contribute to meeting the needs of the Saudi market and the customers of insurance companies and providing the necessary tools for risk management “.

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