Florida-based First Advantage Corporation, a global risk management solutions provider, has acquired Quantitative Risk Solutions LLC (QRS), a privately owned consulting firm specializing in cargo loss risk mitigation.
Annual supply chain losses due to in-transit theft are estimated at $50 billion internationally and $12 billion domestically. QRS offers Fortune 500 companies a solution to this growing problem reportedly using sophisticated financial analysis that quantifies cargo exposure during shipping.
Based on this analysis, QRS recommends solutions that combine insurance and security programs to maximize cargo security. The company also assists clients with carrier selection, cargo routing, loss liability negotiations and implementation of United States government programs, including the Customs Trade Partnership Against Terrorism. QRS clients have reportedly shown year over year reductions in transit losses and insurance premiums as a result of program implementation.
“The addition of QRS to our portfolio demonstrates First Advantage’s commitment to our vision of leadership in enterprise risk management globally,” said John Long, chief executive officer of First Advantage Corporation. “QRS’ innovative approach to worldwide supply chain security issues presents a unique opportunity for First Advantage to service large corporations in their international transactions.”
Further information about the company is available at www.FADV.com .
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