Increase in Thefts Lead Brazilians to Insure Cellphones

FenSeg reports a 60 percent theft hike in insured cellphones alone as Brazilians increasingly opt to insure their smartphone.

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – Data released by Brazil’s National Federation of Insurance Companies (FenSeg) this week shows that theft of insured mobile phones increased 64.6 percent in the country between 2015 and 2016. According to the entity, the number of stolen insured devices in Brazil grew from 118,135 in 2015 to 194,523 last year.

"The cell phone is portable, easy to hide, a valuable asset highly available, has a parallel market and is a status object. So it has all the features to make it a very attractive," explained Tulio . . .

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