Norwich Union, in partnership with the UK Motor Insurance Repair Research Centre (‘Thatcham’), and commercial vehicle manufacturers has reached the first- ever industry agreement to fit standard anti-theft devices pre-sale.
Norwich Union, in partnership with the UK Motor Insurance Repair Research Centre (‘Thatcham’), and commercial vehicle manufacturers has reached the first-ever industry agreement to fit standard anti-theft devices pre-sale.
Europe’s major commercial vehicle manufacturers have agreed to put their new vehicles through a New Vehicle Security Assessment from September next year, which will be undertaken by Thatcham. There will also be a major push to upgrade the security of existing vehicles.
It is hoped that the initiative – which is the culmination of many years of industry campaigning – will help to reduce the high level of losses generated by commercial vehicle theft.
Commercial vehicle crime shows little change since the last Government statistics published in 1995. That report showed that only eight per cent of stolen vehicles are ever recovered, primarily being taken for the trade in black market spare parts and accessories. Equally, the ease with which thieves can make off with vehicles has been proven in tests showing that it can be done within 30 seconds.
Brian Lee, risk manager - motor with Norwich Union, says: “Currently, a commercial vehicle can be opened and the engine started using office stationery – it’s that easy. To date, many manufacturers have only provided security devices, as an optional extra and there has been little impetus from commercial vehicle operators to protect their vehicles after purchase.
“However, the agreement that we have achieved by working with our industry colleagues and Thatcham, is an important first step in reducing the level of commercial vehicle theft in the UK.”
Mr Lee adds: “When the agreement takes effect next year, we will have a point of reference for the security of a vehicle, enabling us to underwrite risks more effectively. Unless the commercial vehicle industry as a whole agrees to take steps, there will be differences in insurance premiums between vehicle manufacturers, dependent on their standard of security.
“Heightening commercial vehicle security will also have a positive effect on insuring loads in transit and fleet operators will benefit by not letting their customers down when a vehicle goes missing. Also, hauliers who are subject to “Just in Time” requirements for deliveries are less likely to face uninsurable penalties by missing delivery times through vehicle theft.
“As the major insurer of commercial vehicles in the UK, Norwich Union fully supports this initiative and will actively seek fleet operators who are keen to maintain well-managed and secure fleets. Using our expertise in the market, we will continue to apply the necessary pressure on manufacturers to help fleet owners achieve these standards.”
The next step in the campaign being spearheaded by Norwich Union and Thatcham will be a full group rating system for commercial vehicle security, similar to that for private vehicles and light commercial vehicles.
For press enquiries, please contact Jon Clements at Staniforth Communications on 0161 274 0100 or Jenny Chapman at Norwich Union on 08703 66 68 64.
Notes to editors
- Norwich Union is the UK’s largest insurer. In general insurance it is more than 1.5 times the size of its nearest competitor, and has a 19 per cent share of the market.
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- one in five households
- one in five motor vehicles
- more than 700,000 businesses<</li>/ul>
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