In an article that first appeared in Electric Light & Power lawyers Hunton & Williams discuss Sergio F. Oehninger and Paul T. Moura the growing electric vehicle industry and the risks caused by the backbone of the power grid. When they explain, the demand and investment in electrical and electronic components is likely to lead to increased demand for charging stations that consume significant amounts of electricity. City centers and property owners are also expected to increase the supply of these stations to make these areas more attractive and accessible to EV owners, drone operators and autonomous vehicle fleets. All of this growth will place increased demands on electricity supply that can be difficult for companies to control, leading to power outages that can lead to business interruptions, inability to access or restore system data, and significant loss of business revenue. All this raises the question: Can companies count on their insurance cover to respond to the risks caused by EV's?
The full article is here.