Hartford, Conn. — According to the National Cargo Security Council, cargo theft is estimated to account for up to $25 billion in direct merchandise losses each year. With more than 675,000 registered interstate motor carriers moving 65% of the freight in the United States, the opportunity for theft is at an all-time high. To combat the problem of cargo theft for its customers, assist law enforcement organizations and help keep retail costs down for the public, Travelers Inland, Hartford, Conn., in partnership with the National Insurance Crime Bureau (NICB), Des Plaines, Ill., unveiled the Travelers Sting Trailer at this week's 2008 Chicago Midwest Cargo Theft Summit.

“The transportation industry is plagued by cargo theft,” says Dick Rowley, president, Travelers Inland. “The cost of theft spreads across the entire economy, not just at the consumer level, but in terms of other serious illegal activities often funded by cargo theft. By building the Travelers Sting Trailer, not only are we helping our customers keep their business moving by safeguarding their cargo, we are providing law enforcement organizations across the country with much needed resources to catch the thieves responsible for cargo theft.”

According to Travelers, the Sting Trailer was built to provide the required evidence to aid in successful apprehensions of organized cargo theft rings. Travelers worked closely with the NICB and law enforcement organizations in the design and construction of the trailer.

“The NICB, as a member of the National Commercial Vehicle and Cargo Theft Task Force, recognizes the tremendous economic impact that this kind of criminal activity has on our nation’s businesses, consumers and insurance companies,” says Joe Wehrle, NICB president and CEO. “The use of sting trailers has dramatically reduced the incidents of cargo theft in those areas where they are deployed. Having the Travelers Sting Trailer extends a very successful application of technology into the commercial transport environment.”

Source: Travelers Cos. Inc.

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