Photo Credit: NewCa.com

🚗🔐 Insurance Bureau of Canada Reveals the Top 7 Hot Spots in Atlantic Canada for Auto Theft Claims

Sunday, 16 June 2024 08:00.AM

- Association calls for swift implementation of national action plan -

Regions across Atlantic Canada are seeing alarming spikes in auto theft claims costs, according to newly released data from Insurance Bureau of Canada (IBC). Notably, Moncton theft claims costs surged 270% between 2018 and 2023, and Fredericton saw an increase of 231% over the same period. These hot spots, along with the dozens of others across the country, contributed to the record-shattering $1.5 billion in auto theft claims last year.

"While auto theft may seem like a problem that's only affecting central Canada, auto theft claims and claims costs are spiking in Atlantic Canada," said Amanda Dean, Vice-President, Ontario and Atlantic, IBC. "It's a problem right across the country and one we can't afford to ignore here in Atlantic Canada. This crisis is having a material impact on auto insurance premiums in the hardest-hit regions – Ontario, Quebec and Alberta. Without swift action to combat theft in Atlantic Canada, claims costs will increase which in turn will impact the cost of insurance."

Top Seven Costliest Cities for Auto Theft Claims in Atlantic Canada, 2023

Rank / City / 2023 auto theft claims costs / 2018 auto theft claims costs / % Increase in auto theft claims costs between 2018 and 2023

1. Halifax Regional Municipality - $3,607,129 - $1,624,922 - 122 %

2. Moncton - 3,328,444 - $900,631 - 270 %

3. Fredericton - $2,459,466 - $742,256 - 231 %

4. Cape Breton Municipality (Sydney) - $1,162,340 - $1,041,059 - 12 %

5. St. John's - $1,014,503 - $755,061 - 34 %

6. Saint John - $976,438 - $415,255 - 135 %

7. Charlottetown - $566,717 - $186,348 - 204 %

IBC analysis based on industry data from GISA systems.

Last month, the federal government released its National Action Plan on Combatting Auto Theft. The plan is comprehensive and includes many of the recommendations submitted to the government by the home, auto and business insurance industry. However, implementation of the plan must be swift – and must include solutions that combat auto theft in Atlantic Canada. With Atlantic Canada showing signs of being the next hardest-hit region in the country for auto theft, the time is now to implement the recommendations within the action plan.

"The auto theft crisis will only worsen in Atlantic Canada unless provincial and municipal governments advocate for solutions that include, for example, investments in Atlantic ports to ensure they don't become the next target," added Dean. "We urge all orders of government – including the provinces and municipalities – to work with the federal government without delay to implement the recommendations in Public Safety Canada's National Action Plan on Combatting Auto Theft. This must include an update to Canada's badly outdated vehicle safety standards, and measures that make it more difficult to transport and export stolen cars."

Additionally, provincial governments across Atlantic Canada should provide more resources for coordinated, inter-agency law enforcement focused on auto crime; prioritize the creation of provincial auto theft teams with dedicated prosecutorial support; and, via these teams, strengthen provincial capacity to police and deter organized crime's involvement in auto theft, as has been done in other provinces.

SOURCE: Insurance Bureau of Canada

* * *
  More related materials  
 
  More News