Of all the things to worry about, now van owners and operators have to be on the lookout for criminals making off with their catalytic converters right from underneath their bonnets.

One van insurance provider has recently warned of a crime spree over the past few weeks that involves the theft of catalytic converters. The commercial van insurance company has begun to urge van drivers to be much more careful where they choose to leave their vehicles overnight in an effort to help them avoid being the victims of such a theft.

June’s crime figures saw the Leicestershire area particularly hardest hit, with almost 250 thefts occurring between January 1 and June 1. This figure is incredibly inflated from last year’s figures, where the first half of the year saw only 47 reported thefts, the car insurance provider remarked.

The insurer’s representative, Joe de Vries, commented on the new report, stating that the increase in catalytic converter theft is ‘terrible news,’ adding that van owners across the country need to be much more vigilant in order to prevent their own vans being subjected to the same fate. Mr de Vries said that van owners should park their vehicles in secure areas overnight, such as a garage, but as not everyone has access to such facilities, parking a van in a well lit area such as directly below a street lamp would be the best way to deter thieves.

The rise in catalytic converter theft is believed to be linked to the cost of scrap metal, which has been on the rise. Organised gangs have been harvesting the components to send overseas, where they are stripped of their metal, law enforcement officials say.

The insurance industry in the UK is on the cusp of finally turning itself around, as car and van insurance providers are reporting a 106 per cent combined ratio, indicating that the nation’s insurers were almost out of the red for the first time in 18 years.

Deloitte said in a recent report that the insurance industry took in around £14 billion in premiums last year after the market grew by 10 per cent, leading to a relatively small underwriting loss (‘small’ in car insurance terms, at any rate) of about £600 million.  This may seem like a catastrophe, but the 120 per cent net combined ration from 2010 saw the industry losing shedloads more money, which means that things are actually looking up.

Expenses for the entire insurance industry amounted to 27 per cent of its total outgoings in 2011, which is quite low.  In fact, if it were not for the amount of its funds that went to settling claims – which was a massive 79 per cent – the profits would have been glorious for nearly everyone involved.

The reason that insurers did so well can be attributed to the rate hikes that we’ve all been suffering from.  However, it’s obvious that the money isn’t going to line insurance executives’ pockets, at least, as every spare pound apparently needs to be thrown at solicitors and claims management companies that are bleeding insurers dry – and by extension, their customers.

However, there are plans that are beginning to coalesce in order to get a handle on massive claims volume, especially whiplash-related claims, which experts say are responsible for £2 billion in costs in 2011 alone.  Hopefully these measures will have some positive effect on the insurance industry’s bottom line to the point where they can afford to drop their rates for personal vehicles and commercial vans and trucks alike.