HARTFORD, Conn., Sep 08, 2008 (BUSINESS WIRE) — 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 percent 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, in partnership with the National Insurance Crime Bureau (NICB), unveiled the Travelers Sting Trailer at the 2008 Chicago Midwest Cargo Theft Summit.
“The transportation industry is plagued by cargo theft. 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,” said Dick Rowley, President, Travelers Inland. “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.”
The Travelers 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,” said Joe Wehrle, NICB President and Chief Executive Officer. “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.”
The Travelers Sting Trailer can be viewed at the Chicago Midwest Cargo Theft Summit on September 8-9, 2008 from 8:30 a.m. through 4:30 p.m. CT. Scott Cornell, Travelers Specialty Investigations Group, will be available to answer questions on site and further explain why Travelers is committed to helping to eradicate cargo theft.
Travelers Inland brings together underwriting, engineering, claim and investigative professionals to help address the complex risk management and insurance needs of our customers, which may range from tailored insurance coverage and theft reduction strategies to timely claim settlements and even faster theft recoveries.