What’s New: In Brief (October 16, 2008)

ICBC has launched a pilot program to offer owners of Ford F-Series trucks, the most stolen vehicles in B.C., a free electronic immobilizer.
The program will run in the Lower Mainland and Fraser Valley. Owners of the trucks (models from 2000 to 2006) will have until Dec. 6, 2008 to book their installation of an immobilizer (up to Cdn$160 in value, including tax and installation).
“While the theft rate for most vehicles has declined significantly over the last year, the Ford F-Series trucks haven’t done as well,” an ICBC release says. “Thieves often target these vehicles because many are not immobilized.”

The U.S. property and casualty composite rate index for September 2008 dipped 10%, according to MarketScout’s Market Barometer.
The average drop in property and casualty rates is an indication premium rates have not been significantly affected by the meltdown of A.I.G., several investment banks and the traditional banking system, MarketScout says.
“The impact of the financial collapse of name-brand banks, insurers and other companies is pending,” said Richard Kerr, founder and CEO of MarketScout.
“We may start seeing rating adjustments in October. Terms and conditions for most policyholders had already been agreed in September, prior to the market collapse.”