"Catalytic converters are valuable because of the precious metals in them, which fetch high prices on the black market. Additionally, the part is quickly and easily stolen, however, based on their placement it is not easily obvious when they are taken," Rich Randazzo, president of Brownyard Claims Management, Inc., told PropertyCasualty360.com. (Credit: velimir/Adobe Stock)
Initial reports underestimated the number of catalytic converters that were stolen in the U.S. during 2022, according to Carfax, which reported the true number is as many as 153,000.
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
