Author: Phil White
As one of the leading brokers in passenger transport, Gallagher recently held a seminar for its insurer partners, together with electric bus manufacturer Alexander Dennis, bus operator GoAhead Group, DVSA and British Engineering Services, where we discussed what all parties were doing to shape the risk management and controls of this evolving technology to enable underwriters to better understand the new exposures it presents.
The direction of travel for vehicles is undoubtedly electric; current requirements stipulate that commercial operators must convert to alternative fuel sources by 2040 at the latest. The looming deadline has prompted a flurry of activity in the bus and coach sector. The advantages of the move to electric are clear: vehicles are emission-free, provide a quieter, smoother ride for passengers and have lower operating costs than diesel. Yet this vital development within the energy transition is not without risks, which must be understood and managed carefully.
