Reports & Papers-Lessons from Losses: Theft of a Full Truckload Shipment

Lessons from Losses: Theft of a Full Truckload Shipment

Pdf Summary

The document provides insights from a loss incident involving the theft of a full truckload shipment from a distribution center in Fort Worth, TX. The company believed a trailer restraint device was adequate for security but it was actually meant for personnel safety and not integration with the alarm system. This led to a $281,000 loss when the container was stolen overnight. Lessons learned include the importance of not leaving loaded trucks unattended overnight, ensuring that security devices are properly connected to alarm systems, and taking steps like palletizing goods and hiring security services for off-hours surveillance to prevent similar incidents. The document also highlights the valuable role of organizations such as IMUA in providing information and resources to the insurance industry for loss prevention. It emphasizes the need for underwriters, loss control specialists, and other stakeholders to remain vigilant against theft and implement appropriate security measures to safeguard shipments, particularly in areas identified as hot spots for cargo crime. This incident underscores the ongoing challenges and risks faced in the commercial inland marine insurance industry, and the importance of continuous learning and adaptation to mitigate losses.

Keywords

loss incident

theft

truckload shipment

distribution center

Fort Worth

security measures

alarm system integration

cargo theft prevention

IMUA organization

insurance industry