Lombard General Insurance Limited
Lombard
隆德保險有限公司
14/F. Office Tower
Convention Plaza
1 Harbour Road
Wanchai, H.K.
Telephone: 8299399
Telex: 69795 LGIL HX Fax: 8240198
STRICTLY CONFIDENTIAL
Mr Ian Strachan
Assistant Secretary for Security
Government Secretariat
Lower Albert Road
Hong Kong
23rd July 1990
Your Ref: (6) in SCR
4/2091/80 Pt 4
Dear Sir
Re: Vehicles Stolen On 3rd May 1990
(1)
(2)
Quite candidly,
We refer to your letter of 27th June. its lack of conviction and vigour gives us little comfort and encouragement.
We shall hereinafter make specific requests on our Government for explanation and assistance. Before that, we wish to note certain recent events.
You are probably aware that we on 2nd July submitted a commentary to the Legislative Council on the subject of Car-Theft.
You may perhaps note that our company now confront a critical challenge. The spate of car-thefts started suddenly in February this year. As of 17th July, 26 cars we insured with a total value of $11,370,000 had been stolen: 18 cars (valued at $7,580,000) up to and including 3rd May and 8 cars (valued at $3,790,000) since.
Since our Legco submission on 2nd July, other insurers have been speaking to us enquiring what may be possible to stop these theft losses. Obviously, we do not have a monopoly on this problem.
May 3rd was for us an incident of the greatest signifi- cance. All indications point to that the majority of the stolen cars this year were taken to China. It is particularly telling that there was a lull in our losses immediately following May 3rd, which respite regrettably lasted only one month to the day, for losses started to occur again in rapid succession since
June 4th.
'
A Member of the Continental Insurance Companies
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