Mr. David Madrigal reports

ELEMENT LAUNCHES RISK SOLUTIONS OFFERING WITH INSURANCE

Element Fleet Management Corp. has launched Element Risk Solutions -- a fully integrated risk management offering. This new service, which Element is launching in a strategic partnership with Hub International Ltd., a leading global insurance brokerage and financial services firm servicing commercial fleets, is designed to transform how clients insure and manage commercial fleets. This new service bundles insurance coverage solutions, including accident management, subrogation, driver safety programs and telematics, to deliver a seamless, vehicle life-cycle experience for clients.

"Commercial auto insurance market placement has been a persistent challenge for our clients in North America for over 15 years," shares Angelique Magi, head of insurance at Element. "In 2024 alone, commercial auto rates in North America have surged to an on average increase of 20 per cent. This has left our clients with a lack of certainty on securing coverage or increased premiums, impacting their projected cash flow and balance sheet. Element Risk Solutions simplifies the process by providing an automated end-to-end solution that saves time, reduces complexity and leverages Element's data capabilities."

Leveraging a simplified transaction process, clients can access customized insurance products powered by Hub Drive Online, based on their specific needs and vehicle. This new service offering will be available in Q1 of 2025.

"Hub is excited to partner with Element to provide their clients with an all-in-one digital resource that streamlines the process of securing insurance and better managing the costs for doing business," said Lisa Paul of Hub Transportation Specialty.

"As a purpose-driven organization committed to move the world through intelligent mobility, we're always looking for ways to create lasting value for our clients," says David Madrigal, Element's executive vice-president and chief commercial officer. "Element Risk Solutions' partnership with Hub is a client-focused solution that takes the friction out of insurance placement and reduces fleet risks to help our clients manage their total cost of risk and ensure they can focus on growing their businesses."

About Element Fleet Management Corp.

Element Fleet Management is the largest publicly traded pure-play automotive fleet manager in the world. As a purpose-driven company, it provides a full range of sustainable and intelligent mobility solutions to optimize and enhance fleet performance for its clients across North America, Australia and New Zealand. Element Fleet's services address every aspect of its clients' fleet requirements, from vehicle acquisition, maintenance, route optimization, risk management and remarketing to advising on decarbonization efforts, integration of electric vehicles and managing the complexity of gradual fleet electrification. Clients benefit from Element's expertise as one of the largest fleet solutions providers in its markets, offering economies of scale and insight used to reduce operating costs and enhance efficiency and performance. Element maximizes its clients' fleet so they can focus on growing their businesses.

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