Page 19 - Insurance Times Octoberr 2022

ENSUING NEED

FOR ELECTRIC

VEHICLES &

FACETS OF THEIR

INSURANCE

MODALITIES

Prologue: Covid crisis with national and state lockdowns, 36 cities out
of 50 cities which had unhealthy levels of air quality were
The Assessment Report (AR6) of the Intergovernmental
identified from India. The vehicular pollution arising from the
Panel on Climate Change (IPCC) evidently states that human
increasing stock of private vehicles, especially internal
activity is causing unprecedented, and sometimes
combustion engines (ICE) has contributed significantly to
irretrievable &irreversible, climatic changes. That report
deterioration of air quality in Indian cities. The increase in
says that the impacts of climate change are already evident:
ICE vehicles stock has led to disastrous results.
with the increasing temperatures, more droughts and floods,
more extreme weather events giving rise to tornados/
Scaling up India's ambitious agenda to combat climate
cyclones/thunder-storms, rising sea levels, and ocean
change, Prime Minister Narendra Modi announced five
acidification. These changes are causing serious problems
"Amrit Tatya" at the COP26 Summit including the target to
for livelihoods and the well-being of persons all around the
attain net-zero emissions by 2070. Delivering the National
world.
Statement at the COP26 Summit in Glasgow, he said India
will increase its capacity of non-fossil energy capacity to 500
According to the World Health Organization (WHO), India
GW and meet 50 per cent of its energy requirements through
has the world's worst air quality. In 2020, even during the
renewable energy by 2030.
The Indian automobile industry has witnessed some tectonic
About the author
changes during the last few years. Some of these changes
Anabil Bhattacharya are increasing penetration of electric vehicles, innovative
B.M.E. (Honours), F.I.I.I., connectivity features in cars, digitalization of entire
Retired Chief Manager, processes. Toll tax process is being abolished and now
H.O. National Insurance Co. Ltd., Kolkata.
onwards when your vehicle will touch any National High
The Insurance Times, October 2022 19