Vehicle thefts costing UK insurers £1.54bn a year

Loss adjuster Phil Swift highlights rising cost of car crime

Phil Swift

Phil Swift

Vehicle thefts are now costing UK insurers £1.54bn a year, says Claims Management & Adjusting (CMA). The motor insurance loss adjuster reports that there has been decline in the stolen car recovery rate.

CMA managing director, Philip Swift, a former police detective, said: “Vehicle theft costs to UK insurers increased again last year, up by £100m to £1.54bn. With the number of thefts and vehicle values static, this rise is due to a further 5% decline in stolen car...

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