Indiana Insurance, a member of the Liberty Mutual Group, has partnered with LoJack Corp., which is making its LoJack for Construction Equipment police-operated vehicle recovery systems available to construction customers to combat what the National Insurance Crime Bureau (NICB) reports is a $1 billion crime annually.
The NICB says organized crime rings are the driving force behind the increasing problem of heavy equipment theft throughout North America and that construction sites are their frequent targets. A 2005 Construction Equipment Theft Survey conducted by Cygnus Business Media found that 64 percent of those affected by this crime never recover their equipment.
In association with Indiana Insurance, LoJack is offering customers significant savings off the regular cost for LoJack products for commercial vehicles and equipment. LoJack has a 90 percent recovery rate nationwide and reports that 68 percent of stolen equipment with LoJack is recovered in less than 24 hours.
“We are pleased to have LoJack make this technology available to our construction customers,” said Steve Munro, loss prevention manager, Indiana Insurance. “This really compliments our loss prevention services and provides an added layer of protection to guard against the lost productivity that can result from this crime.”
“Indiana Insurance recognizes the potential cost benefits of having our proven and reliable tools available to its customers to improve security. As the only stolen-vehicle recovery system used by police, LoJack is pleased to team with Indiana Insurance to help reduce losses associated with the growing problem of equipment theft,” said Kevin Mullins, Senior Vice President and General Manager, Domestic of LoJack Corporation.
For more information about LoJack for Construction Equipment, visit Indiana Insurance online at www.indiana-ins.com.
Source: Indiana Insurance, Liberty Mutual