to beat cycle thefts.

The Royal Gazette revealed last week that Colonial Insurance were to employ a private detective to track down bike bandits and to keep an eye on their favourite hunting grounds.

Colonial general manager Mr. William Madeiros is also to introduce a reward scheme for information leading to the recovery of stolen cycles or conviction of bike thieves.

The move was welcomed by Police and members of the public, with one accountancy firm even stumping up cash to go towards the reward scheme.

But yesterday, the insurance industry were less forthcoming.

Glenn Titterton, president of BF&M, Colonial's main rival in the bike insurance market, did not return calls from The Royal Gazette A spokesman for Argus Insurance said his firm no longer insured bikes against theft.

He added: "It's really a bit unfair to comment -- we are not close enough to the issue to discuss it. I don't know if it would be a good idea or not.'' And a spokesman for Hamilton-based Freisenbruch-Meyer Insurance Services also declined to comment.

It is understood, however, that the firm only insures cycles for clients who have other business with the firm and that the bike market represents only a tiny fraction of their business.

One insurance insider told the The Royal Gazette : "The two main players in bike insurance are Colonial and BF&M -- they're the only ones that matter in this area of the business.

"It's hardly surprising BF&M appear reluctant to comment -- it's probably a bit awkward to be caught on the hop by something as different as Colonial's scheme,'' he said. "It's certainly a marvellous piece of public relations -- but good luck to Colonial is what I say. Like lots of other people, I've had a bike stolen as well.''