Billionaire investor Warren Buffett, whose company, Berkshire Hathaway, owns the insurance giant Geico, told CNBC in a February interview: “If the day comes when a significant portion of the cars on the road are autonomous, it will hurt Geico’s business very significantly.”
That would seem to make sense. If humans aren’t driving the cars, who needs a car insurance policy?
“It’s certainly a topic of heavy conversation right now,” says Rick Gorvett, staff actuary for the Casualty Actuarial Society, a trade group for people who analyze risk for insurance firms.
