One of Europe's largest insurance companies, RSA (formerly Royal Sun Alliance), is warning equipment rental companies to be more vigilant against the threat of plant theft and criminal fraud. RSA has issued a ‘checklist' for UK-based rental companies to follow to minimise the risks of equipment theft:
On all rental contracts
- Retain a signed copy of the hire agreement
- Obtain photo-identity in the form of a driving licence or passport, take and retain copies
- Seek proof of identity in the form of letter headed stationery or a utility bill and retain copies
Rentals where a credit agreement has been established
- Obtain a bank or trade reference which is followed up and retained
- Ensure a standard credit account application is completed and retain
Rentals where a credit agreement has not been established
- Only accept payment by credit or debit card
David Swigciski, regional trading leader for construction, power and engineering at RSA, said; "Plant hire companies must start carrying out more stringent checks before loaning out equipment."
More at KHL.com
