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Get In the Know: Protect Your Equipment from Theft Presented by.

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1 Get In the Know: Protect Your Equipment from Theft Presented by

2 Agenda Equipment Theft: A Large and Growing Problem Facts You Should Know: The Who, What, When, Where & Why of Theft Protecting Your Equipment From Theft: A Practical, Step-by-Step Approach Questions & Answers

3 Equipment Theft: Large and Growing Problem

4 Equipment Theft: The Problem Annual cost of theft as high as $1 billion 72% have experienced theft 76% never saw their equipment again 65% of equipment recovered was damaged Has your company experienced equipment theft in the last 5 years? Source - NICB Source – LoJack 2005 Theft Study

5 The Price of Equipment Theft Direct Costs Initial investment Deductibles Project delays Equipment replacement

6 The Price of Equipment Theft Hidden Costs Beyond the loss of equipment, what other impact has equipment theft had on your firm? Losses from Uninsured Equipment Costs for Added Site Security Job Delays Increased Insurance Premiums Contract Penalties 37% 35% 23% 21% 9% Source – LoJack 2006 Theft Study

7 Facts You Should Know: The Who, What, When, Where & Why of Theft

8 Who’s Behind Theft and Why? Organized crime rings – They know just what they want…and how to get it A profitable undertaking… – Most heavy equipment carries a hefty price tag …With typically low risks – Lack of site/vehicle security & investigation issues – Lack of attention from law enforcement – Lack of familiarity with equipment

9 What is the Most Common Stolen Equipment? Thieves target equipment that is: – In-demand and easy to resell – Easy to remove from jobsites – Smaller and more versatile Skid steers, mini-excavators, mini-track loaders – Towables: “easy pickin’s” Generators, compressors, welders

10 Top Stolen Equipment 2007 Top Stolen Equipment Categories 1Skid Steers 2Backhoe / Skip Loaders / Wheel Loaders/ Track Loaders 3Generators/ Air Compressors/ Welders (Towables) 4Light Utility/ Work Trucks and Trailers 5Forklifts and Scissor Lifts 6Dump Trucks Source – LoJack 2007 Theft Study

11 Where & When is Equipment Stolen? Source – LoJack Theft Study Equipment is typically stolen from jobsites Equipment yards / storage facilities are also targeted The vast majority of equipment thieves operate at night –Weekend thefts are common –Theft often not discovered until Monday morning

12 What Happens to Stolen Equipment? Taken to a remote location for a “cooling off” period or concealed in a garage/ warehouse Taken to another job site Taken to a theft ring operation where PINs are removed and item is readied for resale

13 Hot States for Theft Source – LoJack 2007 Theft Study Hot Theft State

14 Why is Equipment Vulnerable to Theft? Theft detection issues… – Remote sites, weak inventory control – Relatively easy to change identity of equipment – No unique identifiers – Law enforcement usually more focused on vehicle theft …And investigation challenges – Lack of standards for PINs, S/Ns – Lack of documentation for equipment

15 Protecting Your Equipment From Theft: A Practical, Step-by-Step Approach

16 How to Protect Your Equipment and Business From Theft Good Records are Essential Label equipment with unique identifying numbers – Product Identification Numbers (PIN) – Owner Applied Number (OAN) – Mark numbers in multiple locations Keep accurate inventory records – Record manufacturer, model number, year, PIN and purchase date –Record serial numbers of each major component part

17 How to Protect Your Business and Equipment from Theft Focus on Physical Security Fence in or park equipment together to deter access Communicate with law enforcement – Request more frequent patrols Use immobilization devices such as wheel locks, fuel shut-offs or ignition locks Install battery-disconnect switches Install equipment tracking devices for: – Equipment recovery (LoJack) or – Asset management (GPS solutions) Register equipment with a national database

18 What to do if Equipment is Stolen Contact police immediately to file a stolen equipment report – Provide the following information: Manufacturer Model number and color Serial or Product Identification Number (PIN) Date of purchase Identifying marks File an insurance claim within 24 hours of theft –Provide a copy of the police report or the case number Spread the word

19 Commercial Recovery Story Highlights  A LoJack-equipped Takeuchi Mini Excavator was stolen from a rental company in VA and tracked to a ship docked at a SC port.  Officials followed the signal to a shipping container and found the mini excavator and two Bobcat skid steers, a John Deer skid steer, two trailers and a rotary hammer.  The equipment’s journey began at three different rental companies in VA and then moved to Chicago and NY before landing at the ship in SC.  Total value of the recovery was $175,000. Stolen Mini Excavator Leads to Shipping Container

20 Commercial Recovery Story Highlights Cont.  By tracking a LoJack-equipped International truck, Chicago-area police discovered a major chop shop involving several stolen trucks and more than 30 pieces of equipment valued at $900,000.  The site was declared a “hazmat” zone because so much diesel fuel and other toxic substances had been dumped on the ground without any precautions.  Police apprehended the criminals behind this organized theft ring. LoJack System Leads Chicago-Area Police to Bust $900k Construction Theft Ring

21 Commercial Recovery Story Highlights Cont.  A Caterpillar Asphalt Roller and trailer were stolen from a construction site in Fresno County.  Five hours later the flight crew of the California Highway Patrol picked up the LoJack signal, and tracked the equipment to a residence in Raisin City.  Auto theft investigators not only found the roller and trailer, but also a Bobcat, three John Deere Tractors, a Yamaha ATV, an Airman Compressor and two farm implement trailers – all of which were stolen.  Total value of theft ring bust was $200,000. Aircraft Tracks Roller to Theft Ring

22 Resources National Insurance Crime Bureau (NICB) LoJack Corporation Associated Equipment Distributors (AED) Association of Equipment Management Professionals (AEMP) Inland Marine Underwriters Association (IMUA) Stolen Heavy Construction Equipment Bulletin Association of General Contractors (AGC) California Crime Prevention Council International Association of Auto Theft Investigators (IAATI) Industry Publications

23 Questions & Answers


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