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Some luxury cars too hot to handle
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Boomerang system one of the leading, anti-theft tracking devices
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Toronto Sun
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In The News
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Maryanna Lewyckyj
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11/5/1999
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Montreal has become such a magnet for auto thieve that one insurer is refusing to cover luxury cars if they don't have an anti-theft tracking system.
CGU Group Canada Ltd., Canada's largest general insurer, won't accept new Quebec customers unless they have a hi-tech tracking system that gives the location of the car at all times.
CGU spokesman Diane Scott said there are no plans to introduce similar measures in Ontario.
Scott wouldn't name all the models affected or give a price range, saying each case is reviewed individually, but said some BMWs and Mercedes-Benz models would be candidates.
45% CARS RECOVERED
In Quebec, a mere 45% of stolen cars are recovered, compared to a national average of about 70%-75%.
The CGU insurance restriction will only be imposed on new customers of high-end vehicles four years or newer, or existing customers who want to add such a vehicle to a policy.
"With these kinds of cars, the owner would have the kind of money needed to install such a system,'' said Scott.
Rankin Technologies' Boomerang system one of the leading, anti-theft tracking devices, costs about $500 to install and has a monthly monitoring fee of about $10.
According to Rankin Technologies, about 400 vehicles and other assets with a total value of $15 million have been recovered with the Boomerang system
The cellular-based tracking technology is capable of locating vehicle,, indoors, underground ainers.
and even inside metal freight cont,
There are about 10,000 Boomerang customers in Ontario and Quebec.
Mercedes-Benz spokesman Arden Nerling said the Tele Aid tracing and emergency assistance system is standard on all S-class Mercedes and an option on most other classes.
BMW spokesman Tobias Nickel said the automaker sells a tracking system for vehicles sold in the U.S., but not in Canada
"We've got the technology, but we don't offer it in Canada." said Nickel. "We like to think Canada is safer."
KEEPING TRACK... The famous Mercedes logo atop the 105-metre high Europe Centre building in Berlin is brought down for repair work- yesterday. CGU Group Canada Ltd. III Quebec will not insure some high-end cars like Mercedes without an anti-theft tracking system
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| Boomerang
Tracking Inc. assembles, markets and distributes
the Boomerang Tracking System, a proprietary product
using technology patented by the Company. The
Boomerang Tracking System is the central device
in a cellular-based asset tracking system utilizing
the wireless systems of major regional telecommunications
companies. The Boomerang Tracking System is capable
of locating stolen automobiles, heavy equipment
and valuable objects. The Company's proven recovery
record has received endorsement by members of
the insurance industry. The Boomerang Tracking
System is installed through a network of authorized
dealers located throughout the provinces of Quebec,
Ontario and British Columbia. The Company's head
office, research and development, production and
corporate installation facilities are located
in Montreal, Quebec. Boomerang is a registered
trademark of Boomerang Tracking Inc. The shares
of Boomerang Tracking Inc. trade on The Toronto
Stock Exchange under the symbol BMG. |
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