University of Limerick (UL)

The University of Limerick (UL) with over 13,000 students and 1,300 staff is an energetic and enterprising institution with a proud record of innovation and excellence in education, research and scholarship. The dynamic, entrepreneurial and pioneering values which drive UL’s mission and strategy ensure that we capitalise on local, national and international engagement and connectivity. We are renowned for providing an outstanding student experience and conducting leading edge research. The emerging risk team in the Kemmy Business School, University of Limerick specialise in understanding, assessing and managing emerging technology risks and ultimately, measuring that risk from the perspective of the underwriting industry. To achieve our goals, we are embedded in large EU-funded science projects which allow us to understand the science and risks and then utilising statistical models to estimate risk premium. A crucial question arises with regard to how liability will be addressed as vehicles become more independent from drivers to operating completely autonomously. In the case of an accident, responsibility will shift from the driver (individual) to the vehicle (product), so that the manufacturer becomes partially or fully liable. It is probable that manufacturers will then shift the liability to their suppliers or vendors if the accident was a result of an individual vehicle part bought from these sublevels. Product recall liability is already increasing and we envision this to increase over time as the vehicles become more sophisticated burdening the manufacturer with additional costs.