NER’s primary focus is to make accurate information on insured equipment losses accessible to law enforcement to significantly increase the recovery rate of stolen equipment for insurers.

Insurers suffer direct financial loss though the theft of insured equipment. Reports to Insurance Services Office, Inc. (ISO) show an increase of up to 20% in the value of equipment thefts every year since 1996 and show theft as the most common cause of loss for heavy equipment – over 50% of all causes of loss. Inland Marine theft losses alone reported to ISO in 1999 were over $120 million.

Some national surveys have suggested that the total figure could be as much as $1 billion each year in losses and indirect costs, such as rentals, downtime, wasted management time and project overrun penalties. Perhaps the most worrying statistic for owners and insurers is that as little as 10 – 15% of stolen equipment is ever recovered.

NER has developed a database of equipment ownership and losses and associated services that have been tailored to meet the needs of both claims and underwriting professionals.

NER’s unique underwriting tools, close contact with the equipment industry and theft prevention services will also give brokers and marketing departments tools to add to the marketing mix.

For a full color brochure detailing NER's Services specific to the Insurance Industry,
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