New vehicle security assessment-a practical insurance approach

Since its introduction in 1993, the New Vehicle Security Rating Scheme has had an impressive effect on manufacturers. Some 80 assessments have been completed using a pragmatic combination of design assessments and destructive/nondestructive attack testing. Most significantly the results are being utilised with enthusiasm putting a strong market driven financial incentive on manufacturers to upgrade security. Thatcham expects the experience to be favourable and significant reductions in losses incurred as a result of car theft are to be achieved. Indeed, compared with the first half of 1993, car theft has dropped by 9% in 1994