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EVs: A Shock to the Insurance World? ⚡️ Industry insights from Ben Taylor As the UK accelerates towards its 2035 deadline to end internal combustion engine car sales, electric vehicles (EVs) are gaining traction. However, challenges emerge for insurers, prompting John Lewis Financial Services to temporarily halt EV cover. Ben Taylor, Business Development Director at Automated Insurance Solutions, adds nuance. While acknowledging the difficulties in justifying high repair costs for EVs, Taylor believes they don't inherently pose additional risks, especially regarding fires. Despite current challenges, @Jeff Winn, Winn Group’s Executive Chairman, optimistically suggests that as diesel and petrol car production diminishes, repair cost challenges may ease. Meanwhile, Taylor stresses the importance of adapting to the evolving landscape, emphasising that EVs "have their place." Read the full article here : https://lnkd.in/dgstDueD #ElectricVehicles #InsuranceIndustry #FutureOfMobility #veriskclaims
