Allianz Cornhill is spear-heading a campaign to tackle construction equipment theft.

"We are working with The Equipment Register (TER) to help incentivise people who use the database," said Allianz Cornhill Engineering construction underwriting manager Stefan Bramwell.

"We will pay for registration and give 15% off premiums

for our policyholders who sign up."

The national database lists owned and stolen plant and equipment. Unlike the Motor Insurance Database the TER is not compulsory for plant owners.

Bramwell said: "We have to do something about plant theft, and we need to take a holistic approach.

"Our objective is to help TER to achieve the long term target of increasing the rate of recovery of stolen plant by up to 20%.

"If we can reduce plant theft then we can start reducing premiums."

Only 20% of construction equipment is currently registered with the TER.