Emerging Cargo Theft Trends And Tools To Assist Underwriters-Emerging Cargo Theft Trends And Tools To Assist Underwriters

Video Transcription

Video Summary

The webinar hosted by the Inland Marine Underwriters Association discussed the rising trends in cargo theft, including fraudulent pickups and increased theft of household goods and building materials post-natural disasters. California and Texas were highlighted as states with high theft rates. Experts noted a shift towards more sophisticated theft methods involving technology and strategic operations. They emphasized the importance of data analysis, collaboration with law enforcement, and enhancing security measures at warehouses. Challenges such as tracking OSNDs and resource allocation by law enforcement were also addressed. Insights were shared on utilizing technology for security and the complexities of investigating cargo theft involving multiple parties. Overall, the webinar shed light on the changing landscape of cargo theft and the need for collaboration among stakeholders in the shipping process to combat theft effectively.

Asset Caption

Date of Publication: March 15, 2023
Duration: 80 minutes

A recent CargoNet report found that during the third quarter of 2022, cargo theft amounted to $29MM in theft loss value. That's an 81% increase from Q3 in 2021. This dramatic increase is affecting the underwriting of cargo policies. In this webinar, the speakers discuss cargo criminal methods of operation along with presenting cargo crime statistics. Underwriters will learn of resources that can be utilized to identify risk in advance prior to binding coverage

Meta Tag

Module Loss Control & Claims

Keywords

Inland Marine Underwriters Association

cargo theft trends

fraudulent pickups

household goods theft

building materials theft

California theft rates

Texas theft rates

sophisticated theft methods

data analysis importance

collaboration with law enforcement

security measures at warehouses