Jersey City, N.J.-based ISO and the Des Plaines, Il.-based National Insurance Crime Bureau (NICB) are partnering to create a national information sharing system aimed at thwarting cargo crime.

Launching in early 2010, the core of the network is a new database called CargoNet. Intended for use by theft victims, their insurers, and law enforcement, the endeavor will network existing databases and provide secure reporting and analytic functions.

"NICB has been making progress against cargo theft on many fronts,” Joe Wehrle, president and CEO of NICB, said in a statement. “We have recovered stolen cargo, developed intelligence and dissolved organized groups behind the thefts. If CargoNet were in place today, I'm sure we'd be seeing a lot more recoveries, and we'd be making thieves think twice about stealing these loads."

Proponents of the system note that, currently, cargo thieves are able to exploit existing gaps in the nation's information-sharing framework, costing insurers and ultimately consumers.

“We are greatly encouraged by the strong support we are receiving from leading cargo insurers,” said Vincent Cialdella, ISO senior VP. “This initiative would not be possible without it. We are also encouraged by discussions we have had with transportation companies, manufacturers, and retailers, given the crucial role they play in this initiative."

Ronald Thornton, president and CEO of the Inland Marine Underwriters Association (IMUA), a not-for-profit association that represents most U.S. cargo insurers, said a lack of a central database has hampered efforts to combat cargo theft. “We have made good progress in some areas, but information sharing has remained ad hoc and fragmented at best,” Thorton said. “Our technical committees and member companies have met with the team developing CargoNet, and I am encouraged by the evident level of support it is receiving.”

Register or login for access to this item and much more

All Digital Insurance content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access