June 29, 2022 | Cargo Insurance | Jason Palumbo

A Review of Cargo Crime in 2021

Share This:

In 2021, the evolving supply chain landscape, characterized by a pandemic, an opening up of the economy, and shifting cargo crime, cumulatively forced companies to solidify their ability to adapt to new challenges. As goods travel through global trade hubs, like Los Angeles and Yantian, they are susceptible to a variety of cargo crime risks, including theft, insider participation, fictitious pickups, pilferage, and counterfeiting, to name a few.

As global trade rebounds and freight rates stifle, volume increases, adding yet another layer of risk to companies transporting goods throughout last year and carrying into 2022.

In this report, BSI and Roanoke collectively evaluate cargo theft threats in 2021, comparing these to what was seen in 2020 and highlight key mitigation techniques that organizations can implement to mitigate these emerging risks.

To learn more about Roanoke’s cargo insurance and cyber insurance solutions, please contact us today.

Share This:

Related


Planning Ahead for a Potential General Average

  ONE Apus via Twitter   On November 30th, the cargo ship, ONE Apus, sailing from Yantian, China to Long Beach, CA, encountered severe weather. Swells exceeding 20 feet struck the vessel. An estimated 1816 containers were lost overboard, and containers remaining onboard received significant damage. Current estimates are that over $200 million worth of cargo was […]

Cargo Insurance, Industry Insights, Insights, Shippers Interest Cargo Insurance

Reduce the Increasing Rate of Rail Thefts

Situation  In Q4, BSI recorded a significant uptick in rail thefts in North America, especially in the United States, in the Los Angeles area along trail lines, and near the port.  In Q4, the rail modality accounted for 6.7 percent of recorded cargo theft incidents in the United States. While this is a significant jump […]

Cargo Insurance, Industry Insights, Shippers Interest Cargo Insurance, Trade, Transportation

Annual Report Reveals Dire Container Losses – Why is Cargo Insurance the Best Solution?

On the open sea cargo losses happen. Every year, 100s of millions of cargo containers carrying goods valued into the trillions of dollars crisscross the ocean on ships. Transporting these goods safely requires proper packing, stowage, container weight, and securing of containers, but even when all these measures are carried out to perfection, containers get […]

Cargo Insurance

Sign up for our latest articles and events.

Roanoke is the leading provider of insurance and surety solutions for transportation and logistics providers. In fact, we are recognized as the most reliable source for U.S. customs bonds.

Contact

If you have any questions or need help, feel free to contact with our team.

800-762-6653

US CORPORATE HEADQUARTERS

1501 E. Woodfield Road

Suite 400W

Schaumburg, IL 60173


CANADA CORPORATE HEADQUARTERS

390 Bay Street

Munich Re Centre, 22nd Floor

Toronto, ON M5H 2Y2

Solutions that Go the Distance.

© 2024 Roanoke Insurance Group Inc. A Munich Re company

Better Business Bureau logoCoverholder at Lloyd's logo