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Saudi Arabia adopts the first insurance product for self-driving cars

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On Sunday, the Central Bank of Saudi Arabia announced the adoption of the first insurance product to cover autonomous vehicles and the risks associated with them in the Saudi insurance market.


According to a bank statement, the move comes as an extension of efforts to support the insurance sector in the development and launch of new and innovative insurance products.


Since early 2021, Saudi Arabia has started testing autonomous vehicles in order to deliver packages within the capital, defining a starting point and an end point.


The Central Bank stated that the product covers autonomous vehicles that can drive themselves from the starting point to a predetermined destination, in places authorized and authorized by the official authorities to use such autonomous vehicles.


The autonomous driving insurance product includes various technologies and sensors, including adaptive cruise control, active steering, GPS technology, and laser technology.


The Central Bank of Saudi Arabia oversees the insurance sector in the country, which includes more than 35 companies. 

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