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Insurers suffer direct financial loss though the theft of insured equipment and fraudulent claims. NER has developed risk management services for underwriters, claims handling services for loss adjusters and a unique recovery service to increase the level of loss recovery. Member Insurers can also use NER's pre-theft services in marketing to equipment owners.
Law Enforcement officers investigating equipment theft are often frustrated by the lack of accurate data on equipment thefts. NER provides officers with an expert, cost free service to help investigate and prosecute equipment theft. NER's services will also help deter equipment theft.
Equipment Owners, whether self-insured or not, suffer financial loss in the event of equipment theft. The registration of equipment and prompt reporting of losses to NER will deter theft, increase the chances of recovery and may reduce the cost of insurance. NER is also developing a search service to help minimize the risk of purchasing stolen heavy equipment.
Rental Fleets are particularly vulnerable to theft because, by the very nature of the business, the equipment is usually under the control of someone other than the rental company. To help rental companies combat these problems, NER has tailored its HELPtechSM registration services so that rental fleets can take advantage of NER’s services in the most operationally and cost effective manner.
Dealers & Distributers are exposed to risks associated with the theft of heavy equipment that are greater for equipment dealers than other owners of heavy equipment. NER has developed services that help equipment dealers reduce these risks.
Manufacturers incur both direct and indirect cost associated with equipment theft. Even in the absence of a direct loss, stolen equipment is sold well below market value and therefore weakens the secondary market. Perhaps most important indirect cost is the cost of theft for equipment owners – the manufacturer’s customer.
Financial Institutions may become the target of fraud though the underwriting of stolen equipment or through the unauthorized sale or export of equipment that is being used as security for a loan. NER is developing tools that will allow a financial institution to check the title of equipment prior to underwriting and to track the status of financed equipment.
For a full color brochure detailing NER's Services, click here
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