NER Expands Database Services to Help Insurers Further Reduce Losses and Increase Recoveries

January 1, 2011 / 3 min read

NEW YORK, NY, August 14, 2007 — The National Equipment Register (NER), the nation’s leading database of construction and farm equipment theft and ownership data, has expanded its services for member insurers.

Since 2001, NER has been building databases of stolen equipment and equipment ownership to help deter theft and increase recovery rates — saving insurers millions of dollars. NER has now expanded its database to record and monitor losses from equipment damage, which will allow NER to use its expertise and unique search technology to detect fraudulent claims for damaged equipment, in addition to identifying fraudulent theft reports.

NER has also expanded its services in two other areas.

The first service records stolen product identification number (PIN) plates. This lets NER detect a stolen machine that has been given the identity of another machine through the theft of its PIN plate.

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

The combination of expanded services recently resulted in the identification of a Bobcat 863 skid steer loader at an equipment auction in Olympia, Washington, 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 will be even more effective in recovering and deterring the theft of farm and construction equipment.

About NER
The mission of National Equipment Register, Inc. (NER) is to increase the recovery rate of stolen equipment and reduce the costs associated with theft for owners and insurers. NER combines systems, staff, and procedures to provide secure and accurate information services to law enforcement, insurers, equipment owners, and the equipment industry. Operations revolve around its databases of stolen equipment and equipment ownership, NER operators, a network of investigators, and training and awareness programs. For more information, please contact NER at 212-297-1805 or by e-mail at info@nerusa.com. You can also visit their website at www.nerusa.com.

About ISO
ISO is a leading provider of products and services that help measure, manage, and reduce risk. ISO provides data, analytics, and decision-support solutions to professionals in many fields, including insurance, finance, real estate, health services, government, and human resources. Professionals use ISO’s databases and services to classify and evaluate a variety of risks and detect potential fraud. In the United States and around the world, ISO’s services help customers protect people, property, and financial assets.

Release: Immediate

Contacts:
Giuseppe Barone / Erica Helton
MWW Group (for ISO)
201-507-9500
gbarone@mww.com / ehelton@mww.com