Canada’s auto theft action plan – insurance industry reacts
Canada’s auto theft action plan – insurance industry reacts | Insurance Business Canada
Motor & Fleet
Canada’s auto theft action plan – insurance industry reacts
Development “represents a turning point”
Motor & Fleet
By
Terry Gangcuangco
Équité, which previously reported that a vehicle is stolen every five minutes in Canada, expressed gratitude towards Public Safety Canada for the newly announced plan. Terri O’Brien (pictured), president and chief executive at Équité, highlighted the plan’s alignment with the association’s long-standing recommendations.
“Public Safety Canada’s National Action Plan on Combatting Auto Theft represents a turning point for auto theft in Canada,” she declared. “Insurance crime, including auto theft, is a deeply complex and multifaceted issue with real and devastating consequences for our communities.
“The coordinated, actionable solutions provided in [the] Action Plan show a clear understanding of the current landscape and a real commitment by the federal government to take down auto theft and protect Canadians.”
In February, the National Summit on Combatting Auto Theft showcased the federal government’s resolve to address serious and organized crime and ensure community safety. The Action Plan unveiled this week continues that commitment, with a focus on three main pillars: intelligence or information sharing; intervention; and legislation, regulations, and governance.
According to Équité, it looks forward to enhancing the action plan through close cooperation with insurer members, law enforcement agencies, government entities, the Canada Border Services Agency, and industry partners.
Meanwhile IBC president and CEO Celyeste Power commented: “IBC commends the federal government on the release of its National Action Plan on Combatting Auto Theft. Many of the property and casualty insurance industry’s public policy solutions are captured in the comprehensive and informed plan. We thank the government and law enforcement agencies that contributed to its content.”
Power emphasized the importance of quick implementation, citing alarming statistics from IBC’s latest industry report. The cost of insurance claims related to stolen vehicles in Canada surged to an unprecedented $1.5 billion in 2023, marking a 254% increase since 2018.
“The ultimate success of the plan will be in its ability to reduce auto thefts in Canada,” she asserted. “To enable its success, all key stakeholders have a role to play, including insurers, law enforcement and port authorities, as well as auto manufacturers, who are uniquely positioned to make vehicles more difficult to steal in the first instance.
“IBC and its members remain committed to working with governments and stakeholders to combat Canada’s auto theft crisis.”
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