“Contractors’ equipment is more than twice as likely to be stolen than damaged or lost due to vandalism, fire, collision or weather-related events,” said Bob Opitz, vice president and worldwide inland marine manager for the Chubb Group of Insurance Companies. To help improve the chances of recovering stolen equipment, Chubb is introducing a new insurance benefit for customers who purchase and install on their equipment IRONwatch tracking devices serviced by the National Equipment Register (NER). Under this benefit, Chubb agrees to pay for the cost of activating the device if the equipment is stolen.
“Working together with NER, we can help reduce recovery time and the costs associated with equipment stolen from contractors in the United States,” said Opitz. The National Crime Information Center received 11,705 reports of equipment theft in 2011.
When the IRONwatch device is activated, NER’s 24-hour call center can quickly notify equipment owners and law enforcement of the location of the misplaced or stolen equipment. There are no monthly monitoring fees associated with using IRONwatch.
The National Equipment Register is a division of Verisk Crime Analytics, a Verisk Analytics company.