ICPB Anti-theft drive

Engaged in a constant battle to improve costs associated with auto insur- ance, insurers are focusing much attention on reducing auto theft and alerting the insured public about the phenomenon. According to Bill Atchison, acting chief operating officer of the Insurance Crime Prevention Bureau (ICPB), not only are stolen car numbers rising, but conversely, the recovered volume is on the decline.

In 1966 roughly 39,000 cars were stolen in Canada with 5% not recovered. In 1997, more than 177,000 cars were stolen with a striking 24% not recovered. The ICPB, he says, will focus its efforts in the coming year on increasing public awareness, identifying legal loopholes to find ways to make it more difficult to sell a stolen car at home or abroad, and keeping industry and enforcement personnel up-to-date on the latest auto theft trends. The ICPB will also continue its work with the Vehicle Information Centre of Canada, garnering support for the organization’s first standardized tool to measure the effectiveness of theft deterrent systems. Current industry estimates tag the ongoing battle against theft costs auto insurance companies close to $600 million annually.

In an effort to gage public response to car theft, the ICPB conducted a public poll which found that the majority of consumers believe greater cooperation needs to be instilled with all the stakeholders involved, namely government, police, customs and the insurance industry. Most telling in the study is a statistic indicating that 60% of those polled were willing to pay extra for an automobile that features an anti-theft device (up to $816 more).