The National Equipment Register teamed up with Lexington Insurance Company, a member company of American International Group Inc. (AIG) to help their clients recover stolen equipment and reduce the costs associated with construction theft.
Lexington’s contractors’ equipment policyholders that have registered their equipment on the NER HELPtech database (prior to any loss), are eligible to have policy theft deductibles of up to $10,000 waived if the equipment is stolen and not recovered. Additionally, Lexington is helping the construction industry and law enforcement fight equipment theft by offering a reward for the arrest and conviction of persons involved in each occurrence of theft of registered and insured equipment.
NER’s secure and confidential online registration of contractors’ equipment, including descriptions of construction equipment and serial numbers, is stored in a national database for the use of law enforcement officials. In addition, registrants are given a warning decal for each piece of equipment to help deter thieves.
Source: NER, www.StopEquipmentTheft.com.
Topics Profit Loss
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