130,000 car thefts a year. That's over £1bn loss, probably closer to £4bn. In this context the total police budget of around £20bn seems remarkably low!
You'd have thought it'd be worth insurance companies paying people to track down the thieves!
You'd have thought it'd be worth insurance companies paying people to track down the thieves!
A mere six or seven figures spend on lobbying and/or wining and dining the legislature will plug that loophole.
The legislature will spew some grandiose bullshit about how in an effort to reduce the cost theft coverage is now one of the mandatory parts and half of the population will eat it up.
>would have to be a collaboration as it wouldn’t be able to lower only one
Which will never happen because reducing costs across the board is bad for insurers. Even if their margins are thin a thin margin on a big number gets you more money. They don't care how high costs go as long as they're uniformly distributed and/or predictable.
Insurance companies compete viciously with each other on price. Have you not seen their ads? If one could offer significantly cheaper insurance through some mechanism like that they definitely would.