Cargo Theft Reporting Improves, Says Insurers’ CargoNet

March 21, 2012

Reporting of cargo theft in the United states has improved thanks to data sharing by insurers, the transportation industry and law enforcement, according to an insurance industry tracking service.

CargoNet, which was formed by Verisk Analytics and the National Insurance Crime Bureau in 2009, said that out of the 1,215 cargo theft incidents recorded in 2011, 116 involved base metals, 229 involved electronics, 105 involved apparel and accessories, and 200 involved prepared foodstuffs and beverages.

The most cargo theft incidents occurred on Fridays (227 incidents recorded), Saturdays (202 recorded), and Sundays (198 recorded) at locations such as truck stops, carrier/terminal lots, and unsecured parking lots.

CargoNet’s 2011 annual cargo theft report provides an analysis of the cargo theft problem in the United States. The report includes information reported to CargoNet on the type of commodities most often stolen, theft incident locations, and additional analysis such as the time of day and day of the week when cargo is most often targeted based on more than 300 data points.

“This report is an example of how far we’ve come in public-private collaboration efforts at a time when budgetary pressures make such strategic alliances more important than ever,” said Tony Canale, vice president of Verisk Crime Analytics. “We have much further to go, but the momentum is building.”

The cargo theft report can be downloaded from http://www.cargonet.com/cargo_theft_reports/2011.pdf.

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