The CargoNet initiative involves a national database and secure information sharing network, as well as education and loss prevention services.
Chubb vice president & global commercial inland marine manager, Pat Stoik, points out that cargo theft causes significant direct and indirect losses throughout the supply chain, and, left unchecked, it results in an economic drain to shippers, carriers and, ultimately, consumers.
"A national database will make it easier to spot cargo theft trends and develop effective loss prevention techniques," said Stoik. "Today, it's impossible to place an exact cost on cargo theft - which includes theft by land, sea and air."
Law enforcement and industry officials estimate that the cost of cargo theft runs into billions of dollars a year, although many losses are either underreported or unreported.
According to a Chubb study, the types of cargo most stolen are consumer electronics, food and clothing. The top targeted locations for cargo theft are truck stops and rest areas, which account for more than one-third of all incidents, followed by modal yards and unsecured locations such as drop lots and motel and restaurant parking lots.
Due to launch early this year, CargoNet will be managed by ISO, with its national database and information sharing system managed by crime analysts and subject matter experts.
The initiative aims to help prevent cargo theft and increase recovery rates through secure and controlled information sharing among theft victims, their business partners and law enforcement.
The system applies an integrated, layered approach that exploits the weakness of cargo thieves at multiple points and includes: integrated databases; a theft alert system; law enforcement task force investigative support through the National Insurance Crime Bureau; a tractor/trailer theft deterrence program; a Truck Stop Watch program; driver education and incentives; secondary market monitoring and interdiction; crime trend analysis; and training and education through an outreach program.
