Keyword
auto theft
Toronto police recover stolen vehicles amid ongoing rise in auto theft
March 28, 2024 Maan Alhmidi – The Canadian PressToronto police announced the recovery of 48 stolen vehicles and the arrests of seven people Wednesday as they detailed their latest attempt to crack down on the growing issue of auto theft in the region. Investigators said information gathered during…
What’s on Dec? | Episode 13 | Auto theft summit
March 18, 2024 by Canadian UnderwriterIn February, the federal government heeded auto insurers’ call for a summit to address the rising rates of auto theft across the country. In 2022, Canada’s P&C industry paid out $1.2 billion in auto theft insurance claims, the first time…
How Aviva Canada is handling personal lines’ pressures
March 8, 2024 by Jason ContantAviva Canada’s overall combined ratio for 2023 stood at 95.3% (undiscounted) but there was a difference between the year-end combined ratios for personal versus commercial lines. The insurer’s personal lines combined ratio (COR) last year came in at 99.5%, up…
How auto theft, inflation and vehicle complexity boost claims costs
March 6, 2024 Philip PoradoLate last year, Toronto’s police department wrapped an auto theft intervention, codenamed Project Stallion, that recovered 1,080 vehicles stolen citywide with a combined value of $59 million. That works out to just shy of $55,000 per vehicle. Auto theft is…
Federal government announces $15 million to combat car thefts across Canada
February 22, 2024 The Canadian PressMONTREAL – The federal government is committing an additional $15 million over three years to fight the rise in vehicle thefts across the country. Minister of Public Safety Dominic LeBlanc made the announcement yesterday in Montreal. LeBlanc said $9 million…
National auto theft summit comes and goes: what comes next?
February 9, 2024 by David GambrillThe National Summit on Combatting Auto Theft ended in Ottawa yesterday with a commitment to develop a detailed plan to be released in “winter.” The Government of Canada convened the meeting between government officials of all levels, industry leaders —…
Feds devote $28M to beef up fight against stolen car exports
February 8, 2024 The Canadian PressOTTAWA – The federal government is earmarking $28 million in new money to help fight the export of stolen vehicles. The Liberal government said Wednesday the money will give the Canada Border Services Agency more capacity to detect and search…
Feds heed auto insurers’ call for auto theft summit
January 24, 2024 by David GambrillCanada’s federal government has answered the call by the nation’s auto insurers to promote a whole-of-society solution to a mounting auto theft crisis. A National Summit on Combatting Auto Theft will take place in Ottawa on Feb. 8, 2024, Public…
How new vehicle tech is changing the auto theft equation
December 11, 2023 Philip PoradoThere’s a small upside to Canada’s current auto theft wave, industry sources have told Canadian Underwriter. Thieves’ adoption of technologies that can capture vehicle key fob signals means criminals no longer need to resort to violent methods like carjacking to…
Police, insurers collaborate to dismantle auto theft ring
November 30, 2023 by Jason ContantOntario’s Peel Regional Police (PRP) in collaboration with Équité Association have prevented more than $350,000 of insurance fraud by disrupting and dismantling an auto theft ring, the southern Ontario police force reported Wednesday. As part of the investigation dubbed Project…
Paid Uniting industries to tackle the auto theft crisis
November 28, 2023 AVIVA CanadaCanada’s auto theft rates have reached crisis levels. With provinces across the country experiencing double digit increases in the first half of this year, the industry is estimating $1 billion in losses for 2023. The financial and emotional stress associated…
Can car dealerships manage insurance risks from vehicle thefts?
November 27, 2023 Philip PoradoCar thefts began rising across Canada in 2020 during the COVID-19 pandemic and have been climbing ever since – fuelled by organized crime rings using new technologies to steal key fob codes and take vehicles while their owners are asleep.…