At Assurant, we have a long history of applying leading-edge innovation to develop new products and services that meet consumer needs.
We are recognized as an industry leader in incubating and bringing to market innovative solutions in other ways. This is certainly true when it comes to sustainable solutions that address climate change, such as Assurant EV One Protection℠, an electric vehicle (EV) and plug-in hybrid electric vehicles (PHEVs) protection product available to sell in 12 countries globally. As EV sales are expected to grow in the upcoming years, we are poised to adapt to the growing EV market by expanding our offerings.
In 2024, we achieved a significant milestone by issuing mechanical breakdown protection on over 60,000 plug-in hybrid and electric vehicles, representing approximately 7.5% of our total protection contracts issued. This marks a steady growth trajectory for our plug-in hybrid and electric vehicle protection program, which was launched in 2020.
