IBC says that auto theft costs Canadians over $1 billion each year, including police, court costs, medical services and other expenses. In 2007, auto theft cost insurers $542 million, or $35 dollars for each auto insurance policy. The number of thefts across Canada dropped by 9 percent in 2007, but recovery rates also continue to decline.

IBC added that the making the announcement in Montreal was appropriate as, in 2007, more than 22,000 vehicles were stolen in that city – more than in any other Canadian jurisdiction. At the same time, the recovery rate in that city was the lowest in the country, at just 31 percent. Low recovery rate is a strong indicator of organized criminal activity because it means vehicles are being exported, chopped for parts or re-identified and sold to unsuspecting consumers.

Rick Dubin, IBC’s Vice President of Investigations said that the measures announced by the federal government reflect a commitment to the safety and security of all Canadians. He is urging all MPs to support this legislation.