Historic Level of Vehicle Theft by Organized Crime in 2022: Canadian Insurance Industry Report

Vehicles makes their way into and out of downtown Toronto along the Gardiner Expressway on Nov. 24, 2016. Nathan Denette/The Canadian Press

Canadian insurance companies lost more than $1 billion in vehicle theft claims for the first time in history in 2022, largely due to organized crime, according to an industry report.

“Vehicle theft reaches a crisis level as Canada becomes a source nation for illegal trade,” said Équité Association in a news release accompanying the Vehicle Theft Trend Report for 2022. “The numbers are staggering.”