Presentation is loading. Please wait.

Presentation is loading. Please wait.

Geoff Hughes Director—Strategy and Programming National Motor Vehicle Theft Reduction Council The Future for Insurance Write-offs in Australia www.carsafe.com.au.

Similar presentations


Presentation on theme: "Geoff Hughes Director—Strategy and Programming National Motor Vehicle Theft Reduction Council The Future for Insurance Write-offs in Australia www.carsafe.com.au."— Presentation transcript:

1 Geoff Hughes Director—Strategy and Programming National Motor Vehicle Theft Reduction Council The Future for Insurance Write-offs in Australia www.carsafe.com.au

2 Presentation overview www.carsafe.com.au Brief snap shot of Stolen PLCs Vs Non-recoveries 5 major contributing factors to prevailing trend NMVTRC review of the management of repairable write-offs

3 Theft volumes at record low www.carsafe.com.au PLC Thefts and Non-recoveries 2000-2007

4 www.carsafe.com.au RWO example 1: 2005 VZ Commodore Maximum pre-damage value$25,000 Est cost of repairs>$20,000 Salvage value returned at auction$3,600 No. of equivalent undamaged vehicles for sale in NSW on carsales.com and price range402 from $14,990

5 www.carsafe.com.au RWO example 2: 2002 Toyota Corolla Maximum pre-damage value$14,800 Est cost of repairs>$15,000 Salvage value returned at auction$3,600 No. of equivalent undamaged vehicles for sale in NSW on carsales.com and price range407 from $10,499

6 Recovered strips in Bankstown www.carsafe.com.au MY04 Mazda 3 23SP Red Book $19-21K (W)

7 Insurer Damaged Cars Auction House Total Loss Cars Parts Recycle Industry New Parts Rebuilt RWO Unlicensed LMCT Criminal Re-builds Enthusiast Stolen Parts Distribution Repair Industry Industry Re-builds Public Insured Public Parts Distribution Flow Cha rt Legitimate Supply Illegal Supply

8 Initial WOVR impacts tail off www.carsafe.com.au PLC Non-recoveries by Age 2000-2007

9 Review elements www.carsafe.com.au Estimate size of criminal activity related to the re-use of RWOs Quantify impact on insurance premiums Examine the impact of a range of possible interventions Review the case for exemptions Assess environmental and road safety impacts Identify associated costs and benefits by industry sector Determine the overall cost/benefit Impact on insurance premiums Impact on community

10 Geoff Hughes Director—Strategy and Programming National Motor Vehicle Theft Reduction Council The Future for Insurance Write-offs in Australia www.carsafe.com.au


Download ppt "Geoff Hughes Director—Strategy and Programming National Motor Vehicle Theft Reduction Council The Future for Insurance Write-offs in Australia www.carsafe.com.au."

Similar presentations


Ads by Google