I am intrigued. As an insider to the insurance industry, I wait with anticipation to see how our government intends to be effective in its initiative to crack down on car crime. Not just as a political benchmark however, but also in considering how to implement the proposed bill without detriment to the consumer and industry.
I certainly welcome the proposed implementation of a central database for monitoring driver insurance in a bid to crack down on uninsured drivers. Further initiatives announced by the home secretary include new measures to help prevent the “ringing” of stolen vehicles, through the installation of an inspectorate body and tighter restrictions on vehicle registration. I fear that the financial burden of these will fall to the consumer and fleet manager. Funding for these must be generated from the taxpayer or the insurance industry, who in turn will inevitably pass this cost on to the client. Either way, the consumer will pay.
Will the infamous red tape inhibit the process for settling motor insurance claims quickly and effectively, creating more friction between insurer and client. With increasing motor insurance premiums, this may well be another antagonism for the victims of car crime. An increased turn-around time for fleet vehicle claims will raise the cost of claims incurred by the fleet operator. This may result in fleets considering a higher proportion of self- insurance.
I wonder if the proposed bill will truly reap benefits to our society and industry or become a tool for political gain.