The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksAdmiral Share News (ADM)

Share Price Information for Admiral (ADM)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 2,729.00
Bid: 2,726.00
Ask: 2,729.00
Change: -38.00 (-1.37%)
Spread: 3.00 (0.11%)
Open: 2,776.00
High: 2,776.00
Low: 2,723.00
Prev. Close: 2,767.00
ADM Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

EU weighs driver data rules, pitting insurers against auto giants

Thu, 31st Mar 2022 08:53

LONDON, March 31 (Reuters) - The European Union has launched a public consultation on possible rules to ensure fair access to drivers' data, pitting the powerful insurance and auto industries against one another in a battle to monetise digital information.

The bloc's executive European Commission said in a call for evidence document file:///C:/Users/8003243/Downloads/090166e5ea4b65ec.pdf on Thursday that over 85% of new cars in 2018 were connected wirelessly, with more than 470 million connected vehicles expected to be on the roads in Europe, the United States and China by 2025.

The EU has already proposed a Data Act, but it may not be sufficiently detailed for handling auto data, and a further measure could standardise data sets, and ensure fair access and competition, the EU executive said.

Industry body Insurance Europe said such a measure would be the first of its kind.

Automakers have long guarded their 'gatekeeper' role in accessing data from cars, such as how fast they are being driven, with an increasing amount of information now received via wireless transmission.

Insurers and car repair shops have been lobbying the EU to allow drivers, and not the automakers, to decide who can directly access data from their vehicles.

If the automakers control the data, they can also control which insurer or other service provider covers the vehicle.

Putting the driver in charge would mean all industries are on the same competitive footing, Insurance Europe said.

"There is a need to regulate this, as you cannot leave this in the hands of car manufacturers," said Nicolas Jeanmart, Insurance Europe's head of personal and general insurance.

"It should be for each driver to decide what they want to do with their data, and if they want to share with an external provider like an insurer."

There are around 250 million cars on the roads in EU.

Insurers are already providing services to drivers through apps in countries such as Britain and Italy, but provision is patchy. It would be easier and cheaper to offer them directly on the basis of car data, Insurance Europe said.

European automakers industry body ACEA said Europe's auto industry was committed to giving access to the data generated by the vehicles but uncontrolled access posed cyber, data protection and privacy threats.

"That is why any EU legislative framework should keep vehicles and their occupants safe and secure," ACEA said, adding it must also guarantee the auto sector can remain competitive. (Additional reporting by Nick Carey Editing by Mark Potter)

More News
12 Jul 2021 08:21

LIVE MARKETS-Fragile gains at the open

Welcome to the home for real-time coverage of markets brought to you by Reuters stocks reporters.FRAGILE GAINS AT THE OPEN (0721 GMT)European stocks are edging 0.2% higher at the open, partly fuelled by defensive sectors, as rising Delta variant ca...

Read more
12 Jul 2021 07:33

Admiral raises first-half profit outlook on lower motor injury calims

(Sharecast News) - Insurance company Admiral said it expected higher-than-expected first-half profits due to an "unusually positive" development in the cost of UK motor injury claims.

Read more
29 Jun 2021 09:37

BROKER RATINGS: Goldman Sachs prefers Direct Line over Admiral

BROKER RATINGS: Goldman Sachs prefers Direct Line over Admiral

Read more
29 Jun 2021 08:14

LONDON BRIEFING: UDG Healthcare accepts GBP2.8 billion takeover offer

LONDON BRIEFING: UDG Healthcare accepts GBP2.8 billion takeover offer

Read more
16 Jun 2021 17:46

Credit Suisse stays at 'underperform' on Admiral Group, points to inflation and regulations

(Sharecast News) - Analysts at Credit Suisse reiterated their 'underperform' recommendation on shares of Admiral Group in anticipation of slower growth, new regulations and accelerating inflation.

Read more
16 Jun 2021 12:50

Wednesday broker round-up

(Sharecast News) - Pets At Home: Berenberg reiterates buy with a target price of 540p.

Read more
11 Jun 2021 09:32

BROKER RATINGS: Deutsche Bank downgrades Ashtead to Hold from Buy

BROKER RATINGS: Deutsche Bank downgrades Ashtead to Hold from Buy

Read more
28 May 2021 15:59

UK dividends calendar - next 7 days

UK dividends calendar - next 7 days

Read more
28 May 2021 15:59

UK dividends calendar - next 7 days

UK dividends calendar - next 7 days

Read more
28 May 2021 09:29

TOP NEWS: UK FCA targets loyalty penalties in motor and home insurance

TOP NEWS: UK FCA targets loyalty penalties in motor and home insurance

Read more
21 May 2021 07:34

Italy's antitrust starts probe into alleged cartel among insurance companies

MILAN, May 21 (Reuters) - Italy's competition watchdog antitrust said on Friday it had opened an investigation into an alleged cartel among insurance companies and price comparators in the motor business.In a statement the regulator said the compa...

Read more
18 May 2021 09:36

BROKER RATINGS: Barclays boosts Aviva to Overweight from Equal Weight

BROKER RATINGS: Barclays boosts Aviva to Overweight from Equal Weight

Read more
14 May 2021 16:09

UK dividends calendar - next 7 days

UK dividends calendar - next 7 days

Read more
6 May 2021 16:59

LONDON MARKET CLOSE: FTSE supported as pound falls despite BoE upgrade

LONDON MARKET CLOSE: FTSE supported as pound falls despite BoE upgrade

Read more
6 May 2021 12:09

LONDON MARKET MIDDAY: BoE expects strong UK growth in 2nd quarter

LONDON MARKET MIDDAY: BoE expects strong UK growth in 2nd quarter

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.