RANCHO SANTA MARGARITA, CA - Escrow.com and the National Equipment Register (NER), a member of the Verisk Analytics family of companies, have announced a strategic alliance to help equipment owners and manufacturers better manage liability and risks associated with the purchasing of used construction and agricultural equipment from sources such as online auction services, equipment wholesalers, social media websites, and individual sellers.
"Internet fraud has now become one of the biggest issues for the global economy. It is estimated that more than a billion dollars has been lost to Internet thieves selling stolen and nonexistent equipment. Through our alliance with the National Equipment Register, we are in a position to significantly reduce the risk when buying and selling heavy equipment" added Brandon Abbey, president of Escrow.com.
"With transactional fraud and theft of heavy equipment remaining a problem, Escrow.com can help protect buyers and sellers during the sales process through the Escrow.com and NER IRONcheck service," said David Shillingford, president of NER. "Escrow.com provides a crucial element to mitigate transactional risk in the used-equipment market.
About Escrow.com: Headquartered in Rancho Santa Margarita, California, Escrow.com and its operating subsidiaries provide online escrow services that facilitate and accelerate e-commerce by assuring secure settlement.
Escrow.com is a privately held company that has pioneered the process of online escrow services. The company, founded in 1999 by Fidelity National Financial, has established itself as the leading provider of secure business and consumer transaction management on the Internet.
About ISO: Since 1971, ISO has been a leading source of information about property/casualty insurance risk. For a broad spectrum of commercial and personal lines of insurance, the company provides statistical, actuarial, underwriting, and claims information; policy language; information about specific locations; fraud- identification tools; and technical services. ISO serves insurers, reinsurers, agents and brokers, insurance regulators, risk managers, and other participants in the property/casualty insurance marketplace. ISO is a subsidiary of Verisk Analytics. For more information, visit www.iso.com and www.verisk.com.
About National Equipment Register: National Equipment Register (NER), a member of the Verisk Analytics family of companies, helps equipment owners manage equipment risks. Since 2001, NER has helped thousands of equipment owners and their insurers deter theft and has enabled law enforcement to recover millions of dollars of stolen equipment through HELPtech®, a national equipment marking and registration program. In 2009, NER launched IRONcheck®, a machine-history search for used-equipment buyers. NER's data management skills and equipment expertise are also used by fleets to support compliance with new regulations. For more information, contact NER at 201-469-2030 or at firstname.lastname@example.org. You can visit the NER website at www.NER.net
About Verisk Analytics: Verisk Analytics (Nasdaq:VRSK) is a leading provider of information about risk to professionals in insurance, healthcare, mortgage, government, and risk management. Using advanced technologies to collect and analyze billions of records, Verisk Analytics draws on vast industry expertise and unique proprietary data sets to provide predictive analytics and decision-support solutions in fraud prevention, actuarial science, insurance coverages, fire protection, catastrophe and weather risk, data management, and many other fields. In the United States and around the world, Verisk Analytics helps customers protect people, property, and financial assets. For more information, visit www.verisk.com.