The Labor Day weekend brings a higher rate of cargo theft. Protect yourself with marine insurance.

Labor Day Weekend Brings an Increased in Cargo Theft Activity

Although the risk of cargo theft is present throughout any supply chain during any time of the year, there is a marked increase around the Labor Day holiday weekend.

 
Everybody loves a holiday weekend, unfortunately for us, so do thieves. In fact, historically, holiday weekends come with an increase in the amount of cargo theft experienced throughout the international trade community. Transportation companies, shippers, and manufacturers are all susceptible to this rise in criminal activity since theft rings understand that holiday weekends mean more shipments are left unattended for extended periods of time.

This upcoming holiday weekend means that now is the time to get prepared for the rise in cargo theft. In 2016, a total of 14 cargo theft incidents, totaling in excess of US $2.5M, were recorded on Labor Day weekend. And this has been the trend over the last few years. In order to help you get prepared, TRG has researched some tips on how to protect yourself and how a marine cargo insurance policy may help ease the stress of the holiday weekend.

Noteworthy Cases of Labor Day Cargo Theft

Throughout the past few years, there have been many instances of cargo theft of high-value commodities. The following are some of the more noteworthy cases:

  • 2012 : Georgia – Pilferage of Pharmaceuticals $273,000
  • 2013 : California – Theft of Full Truckload of Televisions $680,000
  • 2013 : California – Fictitious Pickup of Apparel $500,000
  • 2014 : Florida – Theft of Full Truckload of Seafood $250,000
  • 2014 : Tennessee – Facility Theft of Cell Phones $1.5M
  • 2015 : Florida – Facility Theft of Personal Care items $100,000
  • 2015 : Florida – Pilferage of Pharmaceuticals $225,000
  • 2016 : California – Facility Theft of Sporting Goods $1.5M
  • 2016 : California – Theft of Full Truckload of Cell Phones $300,000

Tips to Prevent Cargo Theft

To help you prevent cargo theft, we have assembled a list of some tips from expert sources in the industry on precautions to take to protect your goods while they are in transit.

  • Keep Your Cargo On the MoveCargoNet
    The more time your cargo spends sitting in the truck during transit, the more likely it is to become a target. If a stop is necessary during transit, then avoid leaving loaded trailers unattended.
  • Use high-security barrier seals and padlocks on trailersCargoNet
    This may sound like common sense, but many thefts occurr due to cheap locks, or no locks at all. Don’t let this simple step in prevention be the reason your goods are stolen.
  • Ensure that logistics and security protocols are up-to-dateSensiGuard SCIC
    Have logistics and security professionals ensure these protocols are up-to-date and in line with industry best practices for both in-transit and warehouse operations.
  • Utilize covert GPS tracking and active monitoring of high-value shipmentsSensiGuard SCIC
    These methods are highly recommended for high-value shipments, as they have proven to be the most effective protocols to both mitigate in-transit theft and facilitate successful recovery of stolen product.
  • Record all vital information before transitCargoNet
    Make sure drivers and security personnel have the license plate, VIN and descriptive information for tractors, trailers, containers and container chassis in case of a theft to give to police.

The importance of Marine Cargo Insurance

In the event that your cargo is lost or stolen in transit, having a marine cargo insurance policy can help to recover the lost. Marine Insurance will protect your overall investment in the goods you have imported into the United States since most all-risk policies include coverage for water damage and the cost to destroy damaged goods. Although you should always double check with your insurance provider to ensure you are covered.

Learn more about Marine Cargo Insurance with a free PDF from Trade Risk Guaranty and work to prevent moisture damage in your importing process.

Cargo Insurancecargo theftglobal tradeHolidayImporting in the United Statesinternational tradeLabor DayMarine Cargo InsuranceSupply Chain

Meredith Lambert • August 24, 2017


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