Unrecovered stolen vehicles cost insurers £450m last year
Stolen vehicles not recovered by police represent an estimated £450m cost to insurers in 2014, based on figures from a Freedom of Information request by anti-fraud company Asset Protection Unit (APU).
The number is based on data from 43 of 45 UK police forces with an estimated 59,000 vehicles lost every year and, at an average cost per used car of £7622 in 2014, this puts the value of missing cars
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: http://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Claims
Penny Black’s Social Diary: Crawford’s curry and ABI’s meaty fare
Penny Black is back, sharing the tittle-tattle she overheard at insurance industry events, reviewing the quality of buffets at conferences and giving a thumbs up – or down – to the sector’s social media posts.
Four biggest challenges facing insurers in 2025 revealed
To get you ready for the next 12 months, Insurance Post uncovers four things you need to know about what 2025 holds in store for the industry, according to analysts.
60 Seconds With... Forvis Mazars’s Sarah Ouarbya
Sarah Ouarbya, partner for financial services consulting at Forvis Mazars, likes the idea of gardening more than the heavy lifting, loves a bit of Bruno Mars, and shares what matters most is making a positive difference in society.
Man jailed for £100K ‘crash for cash’ plot against LV
A man has been jailed, and two men have been sentenced, for an unsuccessful ‘crash for cash’ plot, which could have cost LV General Insurance £102,827.
How to secure a career in loss adjusting
How to exit school, enter the loss adjusting industry and swiftly climb the sector’s ranks is covered by John Toms, senior loss adjuster, in his Insurance Post Top Tips video.
Five charged over collapse of law firm Axiom Ince
The Serious Fraud Office has charged five men, including two solicitors, with offences including fraud, forgery and the destruction of documents, following the collapse of the law firm Axiom Ince and alleged improper use of more than £60m of client money.
Labour’s £1.6bn pothole plan falls short
Insurers have reacted to Transport Secretary Heidi Alexander’s announcement of a 50% increase in funding for resurfacing roads, observing more cash will be required to end the damage done to cars by potholes.
Q&A: Lauren France, DWF Law
After being named Unsung Hero of the Year at the British Insurance Awards 2024, DWF's specialist manager and deputy head of organised fraud Lauren France talks about the work being done to combat fraud, what threats are on the horizon, and how new injuries are cropping up in personal injury claims.