New Moves To Foil Construction Equipment Theft

National Equipment Register, the national database providing construction and farm equipment theft and ownership data, said it has expanded its services for member insurers to record and monitor losses from equipment damage.

NER said this expansion will allow the New York-based operation to use its expertise and unique search technology to detect fraudulent claims for damaged equipment, in addition to identifying fraudulent theft reports.

Since 2001, NER has been building databases of stolen equipment and equipment ownership to help deter theft and increase recovery rates. NER said its activities have saved insurers “millions of dollars.”

NER also said it has expanded its services in two other areas.

The first service records stolen construction product identification number (PIN) plates, which contain a serial number for the machinery. NER explained this allows NER to detect a stolen machine that has been given the identity of another machine through the theft of its PIN plate.

NER said it has also launched a service called IRONcheckSM, which enables buyers to conduct due diligence through NER prior to the purchase of used equipment. NER predicted this will increase recoveries and make it much riskier for equipment thieves to sell stolen equipment–an important part of theft deterrence.

The company noted that the combination of expanded services recently resulted in the identification of a Bobcat 863 skid steer loader at an equipment auction in Olympia, Wash., that had been “retagged” using a stolen PIN plate.

The stolen PIN plate had been reported to the NER database. The proceeds from the sale of the machine went to the NER member insurer that had paid a claim on the stolen machine in 2002.

Michael St. Hill, NER's director of insurance services, explained that NER “has proved the value of creating a single point of contact for police to identify stolen equipment 24 hours a day. It is now time to expand the concept to increase the benefits of our services to member insurers.”

With these new enhancements, NER said it expects to be “even more effective in recovering and deterring the theft of farm and construction equipment.”