The Insurance Industry’s Role in Advancing Medium and Heavy Duty Electric Trucks and Climate Goals: A Panel with Insurance Commissioner Ricardo Lara
Hosted by: Los Angeles Cleantech Incubator (LACI)
California–and governments across the world–are setting much needed goals to facilitate the rapid adoption of battery-electric medium and heavy-duty vehicles to address a significant source of climate pollution. Yet the price of insurance for these vehicles is often prohibitive as insurers are largely unfamiliar with the vehicles and do not have reliable data on repair costs, battery lifespans, and residual values, all of which holds fleets, OEMs and other stakeholders back from delivering on these vehicle targets. As more vehicle data becomes available, the time is now for stakeholders to collaborate on the development of affordable and comprehensive insurance policies, and for government entities to explore backing the underwriting of these policies in the short-term as a key step in advancing climate goals.
- Ricardo Lara, California Insurance Commissioner
- Amy Barnes, Head of Climate & Sustainability Strategy, Marsh McLennan
- Matt Petersen, President & CEO, Los Angeles Cleantech Incubator