Thank you, Mr. Chair.
My sincere thanks to the witnesses for being with us today.
Throughout our auto theft study, my focus has been on figuring out the causes and identifying solutions with the help of the various witnesses. I want to hear their recommendations on what else the government can do to prevent auto theft.
For the benefit of my constituents, I'd like to take this opportunity to ask, first, the ICBC representatives and then the CAA representatives about how auto theft impacts victims.
We know that insurers paid out more than a billion dollars for auto theft claims in 2022. How do you determine car insurance premiums? Can you tell us more about that? Is auto theft affecting rising insurance premiums across the country? I would think so, but I'd like to hear from you. If someone's vehicle is stolen, how much would their premium go up? What about people whose vehicles are stolen over and over again? In a case in Montreal, a resident had their vehicle stolen and was able to get it back, but it was stolen again a few months later. What effect does that have from the insurer's standpoint? How do you calculate that and how does it affect the people you insure?
The ICBC representatives can go first.