Victoria theft claims cost insurers $300 million in a year

The Insurance Council of Australia said theft-related claims cost insurers more than $300 million last financial year, with Victoria leading the nation. Rising theft losses can push up insurance premiums paid by households and businesses.

• 1The Insurance Council of Australia said theft-related claims cost insurers more than $300 million in the last financial year.
• 2Data showed Victoria led the nation for theft-related insurance claims.
• 3The council called for urgent action to address crime in Victoria.