Lloyd’s of London is to offer insurance products for electric vehicles and hydrogen as part of its efforts to address climate change.
Lloyd’s devised a climate action road map to expedite the transition to a net zero society through its leadership of an insurance task force established last month with Britain’s Prince Charles’ Sustainable Markets Initiative (SMI).
Lloyd’s will develop insurance for electric vehicles that will cover internet outages, as well as investigate ways to insure hydrogen transportation.
Lloyd’s, which has roughly 100 members, announced its first environmental, social, and governance strategy last year, reducing its exposure to coal and tar sands.
