General Insurance Article - Car thieves having a field day with keyless access


Insurance industry research body Thatcham Research has today published new security ratings taking into account the vulnerability of vehicles to keyless relay attack. That’s when thieves target fobs which open cars without the need for a button to be pressed, amplifying the signal to steal the vehicle.

 In 2018 insurers paid out a record £376m for car theft, up 27% on the year before. Home Office stats show more than 110,000 vehicle thefts in 2017/18 – up 10% on the year before and the highest level for a decade.

 Laurenz Gerger, Policy Adviser for Motor Insurance at the Association of British Insurers (ABI), said: “Car thieves have been having a field day lately. Crime stats show vehicle thefts at their highest level for a decade. Insurers paid out a record £376 million for car theft in 2018, which was partly driven by the vulnerability of some cars to keyless relay theft. Making these assessments public should spur motor manufacturers to take swift action to tackle this high-tech vulnerability. Meantime, consumers deserve to know how secure their cars are so they can take the necessary steps to reduce the likelihood that they become victims of crime.”

 

 

Back to Index


Similar News to this Story

Hong Kong property insurance industry to exceed $1bn by 2030
The Hong Kong (China SAR) property insurance industry is projected to grow at a compound annual growth rate (CAGR) of 7.5%, increasing from HKD7.0 bi
Hailstorms hit record damages from severe convective storms
The frequency and intensity of severe convective storm (SCS) events have increased significantly, leading to insured losses in billions of US dollars
Iran conflict narrows travel insurance options
Conflict involving Iran is beginning to have a tangible impact on the cost and practicalities of travel, with higher fuel prices, disrupted flight rou

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.