New Massachusetts Legislation Goals to Thwart Catalytic Converter Thieves

[ad_1]

New Now you can hearken to Insurance coverage Journal articles!

In one among his final official acts in workplace, Massachusetts Gov. Charlie Baker yesterday signed a invoice designed to curb the theft of catalytic converters by regulating the acquisition of the car components by scrap metallic sellers.

Scrap metallic consumers should now require proof of identification and a invoice of sale or different doc indicating possession from sellers. The brand new legislation additional requires consumers to maintain information of all catalytic converter gross sales together with the identify, deal with and license plate variety of sellers.

The legislation is a response to an increase of thefts of the air pollution discount units in Massachusetts and throughout the nation as the worth of metals used within the units has risen.

Nationwide Catalytic Converter Theft Ring Taken Down in Raid

In response to the Nationwide Insurance coverage Crime Bureau (NICB), claims for catalytic converter thefts numbered 3,389 in 2019 and 14,433 in 2020 and continued to rise throughout the pandemic. One insurer, State Farm, reported that in simply the primary half of 2022 , it had acquired greater than 23,000 catalytic converter theft claims nationally.

The NICB has reported that 10 states enacted new legal guidelines in 2021 just like what Massachusetts now has.

Catalytic converters include valuable metals similar to platinum or rhodium. In recent times, the values of those valuable metals have elevated considerably. The common scrap worth for catalytic converters presently varies between $300 and $1,500, in accordance with federal prosecutors. Federal prosecutors have mentioned the half will be stolen in lower than one minute.

Republican Baker is leaving workplace after two phrases. Democrat Maura Healey was inaugurated as his successor on Thursday.

In March, Baker will tackle a brand new job as chief govt of the Nationwide Collegiate Athletic Affiliation (NCAA).

Subjects
Massachusetts

Was this text helpful?


Listed below are extra articles it’s possible you’ll get pleasure from.

An important insurance coverage information,in your inbox each enterprise day.

Get the insurance coverage trade’s trusted publication

[ad_2]

Supply hyperlink

Leave a Comment

Your email address will not be published. Required fields are marked *

43 + = 53