A National Summit on Combatting Auto Theft will be held in Ottawa today.
The summit is organized by the Canadian government amid a rise in auto theft. The Federal government in Ottawa announced just at the end of January that it will invest $121 million over five years to combat gun and gang violence, and auto theft, in Ontario. The announcement was welcomed by the associations for property and casualty (P&C) insurers.
Auto theft is a serious issue that cost Canada’s private auto insurers over $1.2 billion in theft claims in 2022. Not only does that translate to higher insurance premiums for car owners, but the revenue resulting from the thefts is often used to fund other types of organized crime and trafficking.
Politically, the rise of auto theft is a significant issue as well. Though the next election may not happen soon, Justin Trudeau’s Liberals are slipping in opinion polls as property crime rises and becomes a more salient issue. Auto theft is all the more significant as it is concentrated in Ontario, particularly the Greater Toronto Area, which contains many swing seats crucial to winning elections in Canada. Expect Trudeau to focus on combatting auto theft in an attempt to win back voters and ease their concerns about crime.