LABEL Newsletter Nº 2 : September 2009
What are secure parking areas to insurers?
The introduction of the LABEL project has been highly appreciated by the insurance sector, mainly due to the high number of ongoing claims related to vehicle crime. Insurers aim to achieve a reasonable balance between the levels of risk and the price of premiums: it is a given fact that truck crime seriously disturbs the stability of the system. The LABEL project has therefore been welcomed by insurers as a mean to reduce this instability.
The insurance sector does not expect a sudden and overwhelming growth of Secured Truck Parking Areas (TPAs) along the Trans-European Road Network. However, the most important effect of the LABEL project is the certification: the creation of a “label” as the recognition of high security standards. LABEL’s key advantage is its harmonised certification and standards throughout Europe.
A high level of transparency of the certification process is another issue that needs to be underlined. In this regard, insurance companies recommend all truck parking facilities to apply for the LABEL recognition. Dutch insurers are actively working at promoting the project, having already agreed to increase a dedicated budget to facilitate a smooth certification process in the country.
The LABEL project enables truck drivers to distinguish easily and quickly certified TPAs from others and helps them assess the level of security risk. Since the project encourages improvements of parking standards in general, each certified TPA in theory lowers the level of potential risk. Furthermore, this move will reduce truck crimes and therefore insurance claims, making premium prices more reasonable. LABEL services benefit all potential users, not only professional drivers.
The Insurance Bureau for Vehicle Crime is a non-profit organization founded, launched and funded by the Dutch insurance industry.