Cargo Theft and Broken Seals Can Be Costly to Transportation Businesses
Pilferage and broken seals can be costly for fleet owners, freight brokers and logistics firms. If a seal is damaged, the entire cargo shipment may be rejected. Even if a small amount of cargo is stolen, the potential cost of the loss can be significant.
Below are some statistics that highlight the impact of pilferage and seal break events reported in the first half of 2020.
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There were 46% more reported pilferage and seal break events in the U.S. compared to the first half of 2019.
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Most events reported happened at truck stops, warehouses and parking lots.
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Four counties in Texas, Illinois, Tennessee, and Georgia account for 59% of the increase in pilferage and seal break events.
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Pilferage and seal break events happened every day of the week, with only a small dip on Saturdays.
These figures represent only a partial picture, as many events go unreported. Be sure you are prepared to face the risk of cargo theft and seal breaks—consider purchasing transportation, cargo and logistics insurance for your transportation business.
Source
1 CargoNet “Pilferages Seal Break Statistics” report for January 1, 2019 – June 30, 2020.
CARGO TRENDS Q4 2022
Q4 2022 INCIDENT ANALYSIS
How Much, Where, What, When and from Which Location Cargo Is Being Stolen
Understanding current trends in cargo theft is a giant step forward in helping protect cargo from theft occurring in the first place. As part of Travelers’ ongoing commitment to reducing theft risk, we’re sharing an overview of Q4 2022 in partnership with CargoNet, an industry-leading source of incident data.*
How Much Is Being Stolen?
403
incidents reported
+32.13%
compared to Q4 2021
+8.04%
compared to Q3 2022
$33.42M
stolen in Q4 2022
What Is Being Stolen?
Vehicles & Accessories
Q4 2021 27
Q4 2022 32
Household Products
Q4 2021 36
Q4 2022 43
Electronics
Q4 2021 31
Q4 2022 41
Food & Beverage
Q4 2021 32
Q4 2022 56
Building Materials
Q4 2021 10
Q4 2022 11
Other
Q4 2021 31
Q4 2022 23
Commercial/Industrial
Q4 2021 13
Q4 2022 39
Personal Care & Beauty
Q4 2021 9
Q4 2022 9
Metals
Q4 2021 11
Q4 2022 4
Apparel & Accessories
Q4 2021 19
Q4 2022 20
Pharma & Medical
Q4 2021 10
Q4 2022 0
When Are Thefts Occurring?
OCT
2021 111
2022 128
NOV
2021 94
2022 123
DEC
2021 100
2022 152
From Which Locations Is Cargo Being Stolen?
119
Warehouse/Distribution Center
72
Parking Lot
47
Truck Stop
21
Side of Road
85
Other
30
Secured Yard
7
Port/Rail
To find out more about Travelers Inland Marine Cargo Theft Prevention, contact your Travelers representative or visit travelers.com/transportationresources.com
*Q4 2022 CargoNet Quarterly Incident Analysis
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