A new partnership between stolen vehicle recovery firm Tracker and the police could help car insurance companies save thousands of pounds.

The recovery company has joined forces with the Association of Chief Police Officers Vehicle Crime Intelligence Service allowing the police to track and recover vehicles once they have been taken, following a two month pilot scheme.

The initiative, which is known as Operation Semita, has the backing of a number of insurers, including Tracker parent company RBS Insurance. As part of the initiative, the proceeds gained from the vehicle recovery, will be split evenly between Tracker and the insurers.

Tracker managing director Bill Raynal said that around 50% of UK insurers had signed up to the deal, although others were unhappy with halving the proceeds.

He added: “We have a large number of insurers taking part in the scheme but some want to hold out for a greater percentage. However, we are keen to have all insurers signed up.”

Tracker said that around one million cars currently had their tracking facilities installed and that it had recovered more than 18,000 vehicles since 1993.