A sophisticated risk management system is leading the way in theft protection.
A rising number of insurers are lending their support to a revolutionary identification system, known as Thiefbeaters. The unique tracking system has enabled insurers to cut high loss ratios for many construction companies.
Many insurers have begun to incentivise owners for using the system. Thiefbeaters director Bernard Humphrey said:" The problem of spiralling losses is particularly bad in the plant and construction sector. By incentivising plant managers and owners to fit Thiefbeaters, or in particularly high-risk cases insisting on its installation, insurers can manage this risk at small cost to the insured".
