National Equipment Register Launches Heavy Equipment Claims Support for Insurers

January 1, 2011 / 3 min read

NEW YORK, Sept. 19, 2003 — Today National Equipment Register (NER) launches Heavy Equipment Claims Support (HECS), a nationwide training program and information service that is provided free of charge to member companies to help loss adjusters deal with claims for off-road equipment.

Errors in the adjusting and reporting of farm and construction equipment claims are common but result from a small number of recurring factors, such as poor ownership documentation, nonstandard numbering formats, and confusion over where and how to record a loss. Some basic knowledge in these areas will go a long way in helping nonspecialist adjusters discuss losses with policyholders and agents and ensure the loss report is accurate. This knowledge may also help adjusters identify suspect claims.

The course has been developed by NER's equipment specialists who work with member company adjusters to facilitate the correct reporting of losses and help police identify suspicious equipment. Glen Sider, NER's operations manager, noted that "it has become clear that the same mistakes are repeated time and again, and basic information about off-road equipment will stop many of these errors from recurring. HECS is a service that provides this information."

HECS is based on training material that describes and illustrates formats for product identification numbers, common manufacturers and types of equipment most often stolen. The training also gives ISO ClaimSearch® reporting advice for heavy equipment and codes that have been developed by ISO and NER for the most common makes and types of equipment. More specific training on loss reporting is carried out on a company-by-company basis by NER depending upon the exact method that is used to record equipment losses.

The course is backed up by a helpline that gives adjusters direct access to NER's equipment specialists.

The course and helpline are available free of charge to NER member insurers. Adjusters from member companies should e-mail info@NERusa.com or call (866)663-7872 to request training materials or to discuss further training opportunities.

About NER
The mission of National Equipment Register, Inc., 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, accurate information services to law enforcement, insurers, equipment owners and the equipment industry. Operations revolve around a database of stolen equipment, a database of equipment ownership, NER operators, a network of investigators, and training and awareness programs.

About ISO
ISO is a leading source of information, products and services related to property and liability risk. For a broad spectrum of commercial and personal lines of insurance, ISO provides data, analytical and decision-support products; consulting; data processing; and technical, statistical and actuarial services. ISO field services include on-site rating and underwriting services and the evaluation of community loss-mitigation efforts. ISO's products help customers with sales and prospecting, underwriting, rating and quoting, customer management, policy administration, product development, claims administration and fraud detection. ISO's AIR Worldwide subsidiary provides technologies to assess and manage natural and man-made extreme-event risk. Through its ISO Claims Services, Inc. (iiX unit) and Intellicorp subsidiaries, ISO provides motor vehicle reports and criminal-records information and through its AscendantOne unit delivers rating, quoting and policy-administration solutions. In the United States and around the world, ISO serves insurers, reinsurers, agents, brokers, self-insureds, risk managers, insurance regulators and other government agencies.

Release: Immediate

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

Glen Sider (National Equipment Register)
212-297-1805
Gsider@NERusa.com