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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.

Go deeper

Republicans pledge to set aside differences and work with Biden

President Biden speaks to Sen. Mitch McConnell after being sworn in at the West Front of the U.S. Capitol on Wednesday. Photo: Erin Schaff-Pool/Getty Images

Several Republicans praised President Biden's calls for unity during his inaugural address on Wednesday and pledged to work together for the benefit of the American people.

Why it matters: The Democrats only have a slim majority in the Senate and Biden will likely need to work with the GOP to pass his legislative agenda.

The Biden protection plan

Joe Biden announces his first run for the presidency in June 1987. Photo: Howard L. Sachs/CNP/Getty Images

The Joe Biden who became the 46th president on Wednesday isn't the same blabbermouth who failed in 1988 and 2008.

Why it matters: Biden now heeds guidance about staying on task with speeches and no longer worries a gaffe or two will cost him an election. His staff also limits the places where he speaks freely and off the cuff. This Biden protective bubble will only tighten in the months ahead, aides tell Axios.

Bush labels Clyburn the “savior” for Democrats

House Majority Whip James Clyburn takes a selfie Wednesday with former President George W. Bush. Photo: Patrick Semansky-Pool/Getty Images

Former President George W. Bush credited Rep. James Clyburn with being the "savior" of the Democratic Party, telling the South Carolinian at Wednesday's inauguration his endorsement allowed Joe Biden to win the party's presidential nomination.

Why it matters: The nation's last two-term Republican president also said Clyburn's nod allowed for the transfer of power, because he felt only Biden had the ability to unseat President Trump.