A new paper by the American Property Casualty Insurance Association (APCIA) finds that the insurance industry is responding to the needs of the transportation sector as the momentum for electric vehicles (EVs), plug-in hybrids (PHEVs) and other low- and zero-emission vehicles grows.
Analysts estimate EV sales in the U.S. were at about 6.5% of new vehicle sales in the first half of 2023, with the potential to reach over one million in cumulative sales in 2023. Data indicates that in 2022, the U.S. EV market’s top three manu