The retail Inland Marine unit of ACE USA, the U.S.-based retail operating division of the ACE Group of Companies, teamed up with National Equipment Register (NER), a provider of a national database of heavy equipment ownership and thefts that helps authorities track down stolen equipment. Under the terms of the alliance, ACE USA will offer broadened coverage to its retail inland marine clients who purchase its contractor’s equipment coverage by waiving the deductible up to $10,000 for policyholders who have their equipment registered with NER prior to a theft, provided the theft is also reported to law enforcement authorities.
NER’s databases of more than 15 million ownership records and 90,000 theft reports provide law enforcement with the ability to identify the true owner of any registered machine 24-hours a day. For a small fee per machine, per year, owners can securely and confidentially register their entire fleet of equipment with NER and will also receive warning decals to deter theft.
“We’re pleased to participate with NER in this program to help our insured contractors mitigate the increasing risk of equipment theft,” said Bruce Jervis, senior vice president, ACE USA Inland Marine. “This opportunity allows ACE USA to encourage and reward our customers to use this extra layer of protection while at the same time provide innovative risk management solutions to meet the evolving needs of the construction industry.”
“This undertaking with ACE USA allows NER to provide added value to ACE’s insureds in its ongoing efforts to better manage the risks and cost of doing business in the construction arena,” said David Shillingford, President, National Equipment Register.