As the police, plant owners, insurance industry, manufacturers and security companies work continually to make plant theft more difficult, thieves are moving towards targeting hire companies to fraudulently acquire plant.
Some recent criminal activity includes:
A common mistake is to think that insurers are the only ones affected by claims, but in reality, the impact often comes back to the policyholders.
It's important to know that theft affects:
You are the first line of defence in preventing a fraudulent hire.
The additional steps below could help:
This guidance is to help reduce the likelihood of you becoming a victim of this type of crime; however, you will need to ensure you meet all the requirements of your insurance policy.
If you have any questions regarding your current insurance cover, please speak to your broker about your options.
References:
1 Crime in England and Wales: year ending March 2018, Office for National Statistics
2 'Scotland Yard warns of policing cuts if budget reduces officer numbers' (30/10/2017), The Guardian
3 CPA Hires - Best Practice (May 2014), Construction Plant-hire Association (CPA)
4 [PDF] 'Avoiding theft from your premises, fraudulent hires and preventative security measures' (presentation), Combined Industries Theft Solutions
5 '2018 Report - Jan to June', PANIU Reports, Construction Plant-hire Association (CPA)