Download - CONEXPO 2008Final.ppt
Get In the Know: Protect Your Equipment from Theft Presented by
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
Equipment Theft: Large and Growing Problem
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
No28%
Yes72%
Has your company experienced
equipment theft in the last 5 years?
Source - NICBSource – LoJack 2005 Theft Study
The Price of Equipment Theft
Direct Costs
Initial investment
Deductibles
Project delays
Equipment replacement
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
Facts You Should Know: The Who, What, When, Where
& Why of Theft
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
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
Top Stolen Equipment
2007 Top Stolen Equipment Categories
1 Skid Steers
2 Backhoe / Skip Loaders / Wheel Loaders/ Track Loaders
3 Generators/ Air Compressors/ Welders (Towables)
4 Light Utility/ Work Trucks and Trailers
5 Forklifts and Scissor Lifts
6 Dump Trucks
Source – LoJack 2007 Theft Study
Where & When is Equipment Stolen?
Where was your company's equipment stolen from?
73%
33%
2%
0%
10%
20%
30%
40%
50%
60%
70%
80%
Jobsite Storage Facility/ Yard
In Transit
Source – LoJack Theft Study
Equipment is typicallystolen from jobsites
Equipment yards / storage facilities are
also targeted
The vast majority ofequipment thievesoperate at night– Weekend thefts are
common– Theft often not discovered
until Monday morning
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
Hot States for Theft - 2007
Source – LoJack 2007 Theft Study
Hot Theft State
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
Protecting Your Equipment From Theft: A Practical, Step-by-Step Approach
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
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
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
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
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
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
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
Questions & Answers