Insurance Journal, Apr. 16, 2021
The National Insurance Crime Bureau (NICB), is urging Texas legislators to take steps to address the significant increase in catalytic converter thefts across the state.
Texas is in the top five of states with the most catalytic converter thefts, the NICB said.
NICB is backing House Bill 4110, which would increase requirements on sellers of catalytic converters, impose due diligence obligations upon metal recycling entities, and increase penalties for knowingly engaging in fraudulent practices related to catalytic converter purchases.