RLI Corp. (NYSE: RLI) announced that it will pay the theft activation fee for all of its RLI Marine policy holders who purchase and install an IRONwatch ™ equipment tracking device serviced by the National Equipment Register (NER). This offer will help participating RLI Marine insureds reduce the recovery time and costs associated with stolen equipment.
“Theft is a major source of concern for both RLI and our customers,” said Robert Schauer, President of RLI Marine. “We are pleased to be partnering with the NER to provide this offer and help our insureds nationwide combat equipment theft.”
IRONwatch ™, a new wireless GPS tracking and recovery device designed for mobile heavy equipment, is offered exclusively through the NER, a member of the Verisk Analytics (Nasdaq:VRSK) family of companies. IRONwatch ™ utilizes a unique sleeping SIM card which enables the device to be left in sleep mode until it needs to be activated to locate a missing piece of equipment. IRONwatch ™ is supported by a 24-hour call center that uses the NER’s extensive experience to support the investigation and recovery of stolen equipment. With this support system, IRONwatch ™ is able to quickly deliver accurate location and recovery information to equipment owners and law enforcement for misplaced or stolen equipment.
RLI Marine will pay the activation fee every time an insured’s IRONwatch ™ device is activated and a theft is reported to law enforcement. There are no monthly monitoring fees associated with using the IRONwatch ™ device, making it an effective, low-cost solution for equipment protection and recovery.RLI, a specialty insurance company, offers a diversified portfolio of property and casualty coverages and surety bonds serving niche or underserved markets. RLI operates in all 50 states from office locations across the country. RLI’s insurance subsidiaries – RLI Insurance Company, Mt. Hawley Insurance Company and RLI Indemnity Company – are rated A+ “Superior” by A.M. Best Company and A+ “Strong” by Standard & Poor’s. Contractors Bonding and Insurance Company is rated A “Excellent” by A.M. Best Company.