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Insurers have been bitterly criticised for failing to provide a transparent link between their premiums and security features on trucks.
Page 57
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A report published earlier this year by Truckpol, the national intelligence unit covering truck crime, shows that theft of LGVs has fallen by more than 30% over the last 11 years.
Much of the credit is given to vehicle manufacturers, with lveco Ford singled out for particular praise after introducing vehicle immobilisers as standard since 2001.
Truckpol says other companies have followed since then and, as a result, the number of post-2001 registered vehicles stolen A Bill Pownall has fallen in comparison with pre-2001 vehicles.
Although Thatcham Motor Insurance Repair Research Centre has been rating trucks on their security equipment since October 2003, this is still not directly linked to premiums.
The Society of Motor Manufacturers and Traders complains that this means there is no incentive for its members to enhance security on new models. But earlier this year, the insurance industry's vehicle security steering group began investigating ways of linking vehicle security to premiums.
Bill Pownall, motor risk manager for Norwich Union, says one option would be to copy the group rating system used for cars, which places all vehicles in a specific insurance category based on factors such as repairability as well as security.
But he warns that a vehicle's security devices are not the only consideration for insurers. "We talk to companies about the 'key aware' campaign. We need to know how they store their keys, that they don't have the keyboard in a public area and that they don't leave keys in the vehicle when out in the yard."
Despite the absence of a formal insurance rating for truck security devices, he claims they are taken into account, particularly with bigger fleets. "If a company is doing all it can to protect its assets, that gives the underwriter the discretion to flex the premium."