Industrial News

The fifteen page report provides a wide array of statistics based upon thousands of equipment theft reports recorded by NER in 2006, NER's database of over 80,000 losses and insurance industry data from the Insurance Services Office. In 2006 theft was the most frequent cause of equipment insurance losses yet 80% of theft reports were accounted for by only five types of equipment.

The report also found that 48% of the theft reports were for machines manufactured in the last three years and that the brands most often stolen were John Deere, Caterpillar, Bobcat, Kubota and Case. The report provides statistics and case studies of recoveries from among the $12 million of equipment that NER has helped law enforcement recover. TX, CA and FL lead the nation in thefts with TX and CA accounting for the most recoveries in 2006. Each set of statistics is accompanied by a page of analysis and conclusions as to how law enforcement insurers and equipment owners can better deter theft and increase recovery rates.

Stacy Kaufman, NER's director of sales and marketing, explained that "it is impossible for law enforcement to target every machine that they see nor is it economical for insurers and equipment owners to invest in sophisticated security for every machine so it is vital to know where to focus resources for the response to equipment theft to be cost effective and therefore sustainable. This report allows that to be done".

Dennis Childs, CPCU, Product Manager for Inland Marine, Ohio Casualty Group added "this report is excellent and a valuable tool for us as an insurer to ensure that we are doing as much as possible to combat the primary cause of loss in this line of business".

Journalists, law enforcement, NER member insurers and their policyholders may request graphics and free copies of the report by emailing e-mail protected from spam bots or calling 212.297.1805

About NER

Because equipment theft is widespread and costly for equipment owners and their insurers the National Equipment Register is committed to providing services that will make it straightforward for police to quickly identify any type of equipment at any time of day and to help anyone buying used equipment to avoid purchasing stolen equipment. This increases the likelihood of recovery and arrest, decreases thieves' motivation to steal and helps equipment owners and insurers reduce the costs associated with theft.

It is through partnerships with law enforcement, manufacturers, other security service providers, equipment owners and their insurers that this is achieved.

More information about NER is at www.NERusa.com and wwwStopEquipmentTheft.com