From mobile phones to laptops, power tools and electric vehicles to the Curiosity Mars rover, rechargeable lithium-ion (li-ion) batteries are much more common than we think.

Unfortunately, what’s also becoming more common are li-ion battery fires.

The first li-ion battery debuted in the 1990s, and there have already been a number of high-profile issues, from Samsung’s worldwide Galaxy Note 7 recall in 2016, to General Motors’ recall of its Chevrolet Bolt electric vehicles in 2021.

While these incidents captured media and public attention, insurers are also all-too-well aware of the hazards li-ion batteries can pose.

IAG has issued multiple warnings about the risks associated with li-ion batteries.

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