A new device designed to slow down and stop a tractor-trailer is said to help prevent cargo theft and can result in lower insurance costs.

The Chubb Group of Insurance Cos. has signed an agreement with Australia-based SteelSafe Truck Immobilizer International to offer SteelSafe’s truck immobilization product. Companies utilizing the product could have their policy deductible waived up to $10,000 in the event of a stolen load that is not recovered, Chubb said.

According to SteelSafe, the system is the only patented product in the world designed to slow and eventually stop a vehicle.

The system utilizes an integrated GPS feature to help locate the stolen vehicle and then uses an electro-pneumatic device which works on the vehicle’s air brakes system. It will safely immobilize a vehicle remotely (when the option is programmed into GPS units) to gradually stop the vehicle over a period of time, allowing the driver to remain in full control of the steering throughout the process.

An alarm will sound and an optional LED signal will offer warnings of remote immobilization, SteelSafe said.

The unit can also secure a parked tractor/trailer or bus, thus preventing it from being stolen, SteelSafe said.