With the announcement of the Electric Vehicle Availability Standard, Canada joins the U.K along with other European and US jurisdictions in mandating a 100% zero-emission vehicle sales target for light-duty vehicles by 2035. The sale of fully or partially electric-powered vehicles is gaining traction in Canada, with most early adopters leaning toward hybrids instead of fully electrified vehicles. However, the U.K. and Europe are ahead in the transition and those insurers are already experiencing emerging effects.
Join Morningstar DBRS for a discussion on how momentum in zero-emission and hybrid vehicle sales could affect Canadian auto insurance premium rates. We will review the implications for both buyers and insurers and explore nuances unique to the Canadian market, such as the highly regulated nature of the industry. The conversation will be moderated by Marcos Alvarez, Managing Director, Global Insurance Ratings, and will include Victor Adesanya, Vice President, North American Insurance Ratings and Robert Streda, Senior Vice President, Diversified Industries. A Q&A will follow for all who wish to participate.