Public Safety committee  I'm not an expert in car security, but what we see in our data is a big gap between manufacturers, so clearly some know how to protect and some don't. Raising the bar for everyone is part of the solution.

Public Safety committee  Definitely. I'll echo what Mr. Patenaude was saying. It is a multi-faceted issue and it needs a whole-of-society approach, but clearly manufacturers have their part to do. The motor vehicle safety regulations were last updated in 2007 with tough protection standards from 1998.

Public Safety committee  That's a great question. There are definitely affordability issues, and theft is one cause. We see inflation having an effect on insurance prices across the whole chain. Vehicles are more expensive and more expensive to repair, but obviously theft is one of the major drivers. We've seen the cost of theft really triple for insurance companies between 2018 and today.

Public Safety committee  No. My quote was that the cost of theft was $400 million, and now it's $1.2 billion. The cost of theft alone has tripled. The insurance premiums have not tripled.

Public Safety committee  The thing is that, yes, they know there is a tag in there. When Tag installs—

Public Safety committee  I'm going to get to that. Basically, Tag is an aftermarket tracking device. When it's installed in the vehicle, a little etching is done on the window of the car. There's what we call the sticker effect, when the thief sees the model they like and then sees it's protected by Tag, they go to the next-door neighbour who doesn't have Tag and takes that car.

Public Safety committee  Thank you, Mr. Chair. Good morning. My name is Guillaume Lamy, and I am the senior vice-president, personal lines, at Intact Financial Corporation. Intact is Canada's leading and largest provider of property and casualty insurance. One in four Canadians from coast to coast count on us to protect their homes, cars and businesses.