LoJack Corp., a stolen-vehicle recovery system, and CNA, a major business insurer based in the U.S., have announced that CNA will waive the deductible for stolen construction equipment up to $10,000 if the equipment is protected by a LoJack System.
The coverage will be available on new and renewal policies with effective dates of October 1, 2001 or later and will also be an endorsement to the CNA Contractor’s Equipment Coverage Form.
LoJack said its construction equipment product line is designed to withstand the impact and conditions of an active construction site. They are small, silent transmitters packed in a hardened metal housing that is weathe-r and waterproof. The transmitters are hidden in the recesses of construction equipment. LoJack-said that equipment and vehicles equipped with its system have a 90% recovery rate nationwide.