Canadian auto insurers lost more than $1-billion last year from stolen vehicles as organized crime rings helped push up car thefts by nearly 50 per cent in Ontario and Quebec.
In a report released Tuesday, Équité Association estimates the insurance industry nationally lost more than $1-billion in vehicle-theft claims in 2022, up from $700-million in 2021. And Équité, a not-for-profit organization that assists in insurance fraud and crime investigations, expects the losses to continue to climb.
