January 20, 2021
Rise in Thefts Reported
We have seen an increase in catalytic converter thefts in 2020. These thefts have occurred in various states and with increasing frequency. Some of our insured businesses have suffered multiple crimes at one location.
Businesses with multiple vehicles parked overnight in unsecured lots are particularly vulnerable.
While we are seeing these crimes mostly with commercial autos, auto repair garages storing passenger cars have also been affected.
The National Insurance Crime Bureau (NICB) has also identified catalytic converter theft as an ongoing problem. They attribute this to many factors including increased value of salvage metal generally and certain rare metals found in catalytic converters in particular.
A few safety tips
There are measures you can share with your policyholders to help prevent these crimes. Merchants Special Investigation Unit, along with our Claim Teams and The NICB, suggest the following:
visit our website: www.merchantsgroup.com
Eastern Strategic Business Center
1393 Veterans Memorial Highway, Suite 401S
Hauppauge, New York 11788