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Subjects: NPT, LEG, PSF, AVO

NICB Urges Illinois Legislators To Take Action To Curb Catalytic Converter Thefts


DES PLAINES, Ill., April 21, 2021 /PRNewswire/ -- The National Insurance Crime Bureau (NICB), the insurance industry's association dedicated to predicting, preventing, and prosecuting insurance crime, urges Illinois legislators to take steps to address the significant increase in catalytic converter thefts across Illinois. NICB strongly recommends legislators support Illinois HB0106, which would increase requirements on sellers of catalytic converters, impose due diligence obligations upon metal recycling entities, and establish fines for buyers who are knowingly engaging in fraudulent practices related to catalytic converter purchases.

"Since the start of the pandemic, we have seen a drastic increase in auto crimes to include a rise in catalytic converter thefts, and Illinois continues to be near the top of the list," said David Glawe, President and CEO of the NICB.

A catalytic converter is a device that looks like a small muffler along with the exhaust system. It is designed to convert the environmentally hazardous exhaust emitted by an engine into less harmful gasses. To do this, manufacturers use platinum, palladium, and rhodium. In recent years, the values of these precious metals have skyrocketed.

According to NICB's Operations, Intelligence and Analytics study of reported thefts, there were 108 catalytic reported converter thefts per month on average in 2018, 282 average monthly thefts reported in 2019, and 1,203 average thefts reported per month in 2020. During this time-period, the top five states for catalytic converter thefts were California, Texas, Minnesota, North Carolina, and Illinois. In 2020, there was a continual climb in thefts. January had the fewest number of reported thefts at 652, but it continued to climb markedly throughout the year, with December having 2,347 reported thefts.

"NICB continues to engage in an aggressive media campaign to warn the public about this alarming trend. Make sure you use common-sense tactics such as securing your vehicle, park in well-lit areas. Make sure your anti-theft device is active. Take your keys and fobs with you. More often than not, people are leaving their keys in their vehicles. Work with law enforcement and your neighbors. If you see something, say something. If you see something suspicious, call 911," added Glawe.

The NICB recommends vehicle owners:

NICB always encourages you to contact your insurance agent or company to make sure you have the right amount of coverage in case your catalytic converter is stolen. In some cases, this theft is covered by insurance. The optional comprehensive portion of your insurance policy, the portion that covers damage caused to your vehicle not caused by accident, usually covers this kind of loss. However, the owner will be responsible for paying the deductible. If your deductible is $1,000 and the cost to repair the damage costs $1,000 or maybe a few hundred dollars more, drivers may not opt to file a claim. The NICB advises drivers to contact their insurer to report the theft and determine the best course of action.

REPORT FRAUD: Anyone with information concerning insurance fraud or vehicle theft can report it anonymously by calling toll-free 800.TEL.NICB (800.835.6422)or submitting a form on our website.

ABOUT THE NATIONAL INSURANCE CRIME BUREAU: Headquartered in Des Plaines, Ill., the NICB is the nation's leading not-for-profit organization exclusively dedicated to preventing, detecting and defeating insurance fraud and vehicle theft through Intelligence & Analytics, Learning & Development, and Strategy, Policy, & Plans. The NICB is supported by more than 1,200 property and casualty insurance companies, rental car agencies, auto auctions, and self-insured entities. NICB member companies wrote more than $526 billion in insurance premiums in 2019, or more than 82% of the nation's property-casualty insurance. That includes more than 95% ($241 billion) of the nation's personal auto insurance. To learn more, visit www.nicb.org.

SOURCE National Insurance Crime Bureau


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News published on 21 april 2021 at 13:17 and distributed by: