Addressing the Vehicle Theft Problem
July was National Vehicle Theft Prevention Month and NICB remains dedicated to combat this crime by bringing our unique expertise and capabilities on behalf of the insurance industry. Vehicle theft is a multi-billion-dollar industry in the United States with more than 1 million vehicles stolen last year alone. This reflects a significant increase in vehicle theft totals since the start of the pandemic. Sadly, these statistics show that approximately one motor vehicle is stolen every 32 seconds. To help combat this issue, we partnered with the U.S. Department of Transportation’s National Highway Traffic Safety Administration (NHTSA) to warn Americans about the threat of vehicle theft as part of Vehicle Theft Prevention Month in July. Our goal is to highlight the importance of addressing the vehicle theft problem and its significant economic impact on the nation.
July is historically the busiest month of the year for vehicle thefts, which is why we focus on raising awareness and offering helpful tips and advice on preventing this crime. As part of this effort to raise awareness on vehicle thefts, NICB recently released a new report focused on theft trend rates involving different vehicle types. In our analysis, we found that while vehicle theft rates have been soaring since 2020, recovery rates have also risen. More than 85% of passenger vehicles reported stolen in 2022 were subsequently recovered by law enforcement or other means, with 34% recovered within a day of the vehicle being reported stolen.
In our eleventh issue of The NICB Informer, we take a look at efforts by law enforcement agencies across the country, NICB, and vehicle manufacturers to fight the surge in theft rates for Hyundais and Kias, which could be linked to recent social media trends, as well as an update on cargo theft rates. This issue also highlights the outstanding efforts by NICB’s Government Affairs team as they work with state legislatures across the country to increase and support new legislation targeting various aspects of vehicle theft.
Additionally, the issue includes a sit-down interview with Jessica Rust, Director of Data Analytics, and Raun Bass, Director of Intelligence Production, both with the Office of Intelligence and Analytics, who discuss the various reports and intelligence products produced by their department.
All of these efforts to raise public awareness on new crime trends highlights our continued focus on advocacy, education, data collection, and providing resources for our members to help prevent insurance fraud.
Thank you for your continued support as we work to benefit our members, the law enforcement community, and insurance consumers across the nation.
DAVID J. GLAWE
President & CEO
National Insurance Crime Bureau