Electric Vehicle Surge in India: Implications for Insurance

India is setting its sights on becoming the world’s third-largest market for electric vehicles (EVs). This ambitious goal presents both opportunities and challenges, particularly for the insurance sector. As the EV landscape evolves rapidly, policymakers and insurance providers must collaborate to formulate comprehensive and clear guidelines to address the unique risks associated with electric vehicles. The development of these well-defined policies is crucial to support the growth of the EV market and ensure consumer protection.