Waymo's self-driving Chrysler Pacifica minivan. Photo: Waymo

When Phoenix residents begin using Waymo's self-driving ride-hailing service next year, they'll be insured by Trov, a five-year-old startup that provides custom coverage. Waymo's own commercial insurance policies will cover damages to the car and from accidents.

Why it matters: The eventual arrival of self-driving cars will have a huge impact on auto insurance.

  • If car ownership significantly declines in favor of ride-hailing services, passengers will need protection for lost items, medical needs while onboard, and so on.
  • Insurance for the cars themselves is also expected to be heavily affected, especially as more self-driving cars hit the road, reducing accidents caused by human errors.

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Investors are betting the future is priced in euros

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It's the euro's time now — at least that's how investors have been positioning recently.

What's happening: Speculators have raised their bets to the highest in nine years that the dollar will fall and increased bullish bets that the euro will rise to the highest level on record, Reuters reported citing data from the CFTC.

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Illustration: Annelise Capossela/Axios

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  4. Public health: America's flying blind on its coronavirus response.
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3 hours ago - Politics & Policy

3 keys to Joe Biden picking Kamala Harris

Photo: Jeff Kowalsky/AFP via Getty Images

Three quick points about Joe Biden's historic selection of Sen. Kamala (pronounced COMMA-luh) Harris of California as his running mate — and clues they give us to how Biden would govern:

  1. She was always at the top of his list. As I look back through my text threads with top Dems over the past five months, she was always assumed to be the most likely pick.