The Insurance Council of Australia (ICA) says it aims to collect “a more comprehensive range” of vehicle theft data after cutting its funding for the National Motor Vehicle Theft Reduction Council (NMVTRC).

The NMVTRC was formed in 1999 to push reforms aimed at reducing vehicle thefts across Australia, but says without ICA’s annual $1.125 million funding, which runs out at the end of June, it will have to fold in September. ICA provided 50% of the group’s funding, with state governments also contributing.

“The ICA thanks the NMVTRC for its work over a number of years, providing a robust source of motor vehicle theft data,” a spokeswoman told insuranceNEWS.com.au.

“On behalf of the motor insurance industry, the ICA is moving toward being able to collect a more comprehensive range of motor vehicle theft data beyond the remit of the NMVTRC.

“Through the Insurance Fraud Bureau of Australia, the ICA has established relationships with state and territory law enforcement agencies and will work closely with these agencies to support the identification and enforcement of motor vehicle crime, including insurance fraud and theft.

“The insurance industry currently shares details on motor vehicle crime and these changes will enable us to target more than motor vehicle theft data, better informing industry and stakeholders of the areas to target in order to combat not just motor vehicle theft but a range of motor vehicle insurance related issues.”

ICA says in making this change it is seeking to expand understanding across other risk segments including:

• Theft of motorcycles
• Plant and machinery theft including heavy vehicles and farm machinery
• Commercial vehicle theft
• Motor accidents
• Safety programs for motor vehicles, including the potential to rate the safety and security of vehicles.

NMVTRC CEO Geoff Hughes says the scheme cannot survive without ICA funding.

“While we have in the past been able to successfully navigate periods of one or more state governments’ non-participation, the withdrawal of the private sector partner (and its 50% share of funding) poses a very different challenge.

“The NMVTRC’s assessment is that it is not sustainable to continue operations beyond September 30 2021.”

Mr Hughes told insuranceNEWS.com.au that insurers have invested $25 million in the scheme since 1999, and theft numbers have fallen 60%.

“We thank insurers for 22 years of collaboration,” he said.

Mr Hughes says the group will focus on the completion of some key projects including publishing a full analysis of crime data for FY2021, and finding an “appropriate custodian” for more than 20 years of national vehicle crime data.