FOR IMMEDIATE RELEASE
Santa Fe Springs, Calif. (January 25, 2024) – CAT Converter Express, a Premiere Services company and the nation’s leading provider of catalytic converter theft restoration services for insurance theft and vandalism claims, reports its top markets by frequency for insurance-related catalytic converter theft through the fourth quarter of 2023.
Los Angeles/Orange County tops the list for the eighth consecutive quarter and remains the perennial leader in catalytic converter theft claims. Houston and Oakland/San Francisco followed closely behind. Both California and Texas had four markets in the Top 20. The highest increases year over year were seen in Chicago, Portland, and Seattle.
Top 20 Catalytic Converter Theft Markets of 2023
* Top market in all of 2022, 2023
** Markets with highest YOY increases
Los Angeles/Orange Country also has the dubious honor of being the top market for wheel and tire thefts in 2022, according to Premiere Services.
As the leading provider of insurance-based replacement services, Premiere Services tracks and reports insurance-related losses. For 2023, frequency across all markets combined has been up 26% YTD and almost 155% since 2020. The average cost of repair also continues to climb, with an average of 14% increase in cost per claim.
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Year-to-date increase in frequency across all US markets0%
Increase since 20200%
Increase in cost per claim“Despite increased awareness and community vigilance, the frequency of catalytic converter theft losses continues to grow year over year. What was once uncoordinated, individual thefts has turned into organized, coordinated theft by teams of thieves working together to hit multiple vehicles at one time.”
Chris Sestito
Premiere Services
“In addition to increased frequency, the cost of repairs continues to rise even faster,” continues Sestito. “Our dedicated staff and refined processes have allowed us to reduce overall loss costs, shorten the repair cycle to a handful of days, and deliver enhanced policyholder experience for our insurance carrier clients.”
CAT Converter Express is a national service that handles theft and vandalism claims for all private passenger vehicles and the majority of commercial vehicles. Claims handlers can send an assignment to Premiere Services via CCCOne©, warm transfer phone call, email (claims@premiereservices.com), or through Premiere’s secure online quick claim portal found at https://premiereservices.com/quick-claim-form/. There are no setup fees, additional costs, or IT integration needed. Previously, repairs could take as long as 2-3 weeks. With CAT Converter Express, the average cycle time is 4.5 days.
About Premiere Services
CAT-Converter Express is a national service that handles theft and vandalism claims for all private passenger vehicles and the majority of commercial vehicles. Claims handlers can send an assignment to Premiere Services via CCCOne®, warm transfer phone call, email (claims@premiereservices.com), or through Premiere’s secure online quick claim portal found at https://premiereservices.com/quick-claim-form/. There are no setup fees, additional costs, or IT integration needed.
Premiere Services has been exclusively serving the insurance claims industry for 30 years. The company was started after Mark Puente experienced a theft loss, and after the claim was finished, he felt “there had to be a better way”. That has been the guiding principle for the company since 1991.
For more information or to set up a demo, please contact Premiere Services at 800-479-9945 or via email at demo@premiereservices.com.
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