Original Air Date: June 16, 2022
Electric vehicles (EVs) are emerging as a key component toward achieving climate change resiliency. Businesses, governmental agencies, and consumers are engaging on the topic of electric vehicles. While electric vehicles are currently estimated to comprise less than two percent of the new car market, interest has increased dramatically. One significant hurdle that is influencing the pace of EV adoption is the electric vehicle charging infrastructure. Electric vehicles in today’s market run on rechargeable batteries installed in the vehicle. While it’s estimated that over 80 percent of electric vehicle charging takes place at home, there is a growing demand for public use charging stations. Possible locations include major transit corridors, large retail shopping centers, or parking garages near office buildings. To give you a perspective from one state, Texas currently has approximately 1,383 public charging stations available for use, with 4,136 charging outlets.
From a business owner’s perspective, there are a variety of factors to consider regarding the installation of EV Supply Equipment. Many organizations have goals to reduce their overall carbon footprint. There are financial aspects that would be part of the decision-making process. The availability of various Federal tax credits and/or incentives from both federal and state governments will often provide some assistance for the initial infrastructure investment. There may be some additional revenue flow associated with point of sale charging or, at a minimum, from new customer foot traffic.
The purpose of this presentation is to provide an overview of the EV charging technology and some of the public liability risk management considerations that should be factored into an organization’s decision to add EVSE services to their operations.
Note: This webinar is intended to provide a loss control perspective of the topic. Insurance coverage issues will not be covered during this webcast. If you have questions concerning coverage or insurability, please contact your insurance broker or underwriter.