cpa
Active Member
This is an application fee. I do not have a problem with application fees of this magnitude. These fees help pay for extraordinary services that must be performed in order to allow something like this. The Internal Revenue Service charges taxpayers for private letter rulings--rulings that are an affirmative defense in examination. Other agencies charge for parade permit fees and other fees because there are additional costs incurred. I have no doubt that once autonomous automobiles become mainstream and are sold to customers in the usual course of business, these application fees will be eliminated or reduced substantially.
The insurance requirement is not onerous. Either you prove that you have adequate insurance coverage, or you self-insure and post a five million dollar bond. I do not know what the premium is for a five million dollar bond, but I am certain that it would not be onerous if a company like Google wanted to self-insure (and I would presume that with their equity and fiscal strength, that they would.)
Many years ago when I was a controller at a company, we were able to self-insure for workman's compensation insurance. Our insurance costs plummeted once we self-insured. We had been paying on average ~$350-$400K per year in premiums when we had conventional insurance. The first year our costs, which included a third-party administrator and our bond, dropped to ~$170,000, or about half.
The insurance requirement is not onerous. Either you prove that you have adequate insurance coverage, or you self-insure and post a five million dollar bond. I do not know what the premium is for a five million dollar bond, but I am certain that it would not be onerous if a company like Google wanted to self-insure (and I would presume that with their equity and fiscal strength, that they would.)
Many years ago when I was a controller at a company, we were able to self-insure for workman's compensation insurance. Our insurance costs plummeted once we self-insured. We had been paying on average ~$350-$400K per year in premiums when we had conventional insurance. The first year our costs, which included a third-party administrator and our bond, dropped to ~$170,000, or about half.