According to the National Insurance Crime Bureau’s (NICB) annual “Hot Wheels” report, 1.2 million motor vehicles were stolen in 2006, meaning a vehicle is stolen every 26.4 seconds.

While those figures indicate a 3.5 percent drop from last year’s numbers — and the third annual decrease in a row — it still adds up to some big losses for insurance companies. The NICB’s report stated that if each vehicle loss is estimated at $6,649, vehicle-value amounts could be as high as $8 billion alone in 2006.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

 

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2023 ALM Global, LLC. All Rights Reserved.