Two years ago, in February 2024, the federal government hosted the National Summit on Combating Auto Theft in response to a sharp rise in vehicle theft across Canada — and especially Alberta. Since then, governments, law enforcement, insurers, and industry partners have been co-ordinating to help combat this very expensive issue. The good news is…
Auto insurance experts have been warning for some time that the number of auto thefts have been increasing dramatically, and the numbers are in to prove it. According to a recent CTV News report, auto theft claims for Calgarians totalled more than $33 million in 2023, and, as a result, theft claim costs in cities…
Canada’s Équité Association’s 2022 Vehicle Theft Trend Report, which was released in June, has revealed some alarming numbers. Unprecedented results showed that for the first time ever, insurers had to pay out more than $1 billion in claims for stolen vehicles. The sharp uptick is particularly bad in Ontario, where the industry ended up paying…
The Insurance Bureau of Canada (IBC) was established in 1964 and is the national industry association representing Canada’s private home, auto, and business insurers. They consolidate information from customers and industry, and government representatives, to help provide a full picture of insurance in Canada. Every year the IBC puts together a list of the top…