Claims News Service, Feb. 12, 10:02 a.m. EST — The NationalEquipment Register (NER) recently published its fourth annualEquipment Theft Report. The 2006 report provides statistics basedfrom three sources: equipment theft reports in 2006, its databaseof more than 80,000 losses, and insurance industry data from theInsurance Services Office.

According to the 15-page report, theft was the most frequentcause of equipment insurance losses in 2006, yet 80 percent oftheft reports were accounted for by only five types of equipment.The report also found that 48 percent of the theft reports were formachines manufactured in the last three years and that the brandsmost often stolen were John Deere, Caterpillar, Bobcat, Kubota, andCase.

The report also provides statistics and case studies ofrecoveries from among the $12 million of equipment that NER hashelped law enforcement recover. Texas, California, and Florida leadthe nation in thefts, with Texas and California accounting for themost recoveries in 2006. Each set of statistics is accompanied by apage of analysis and conclusions as to how law enforcement insurersand equipment owners can better deter theft and increase recoveryrates.

“It is impossible for law enforcement to target every machinethat they see, and it is not economical for insurers and equipmentowners to invest in sophisticated security for every machine,” saidStacy Kaufman, NER's director of sales and marketing, in a pressrelease. “It is vital to know where to focus resources for theresponse to equipment theft to be cost effective and thereforesustainable. This report allows that to be done.”

“This report is excellent and a valuable tool for us as aninsurer to ensure that we are doing as much as possible to combatthe primary cause of loss in this line of business,” said DennisChilds, product manager for Inland Marine, Ohio Casualty Group, ina release.

More information is available at www.NERusa.com,www.StopEquipmentTheft.com.

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