JERSEY CITY, N.J., March 7, 2011 (GLOBE NEWSWIRE) — Verisk Analytics, Inc. (Nasdaq:VRSK), a leading source of information about risk, today announced that CargoNet® has released its first annual cargo theft report, providing a detailed analysis of the growing problem of cargo theft in the United States. CargoNet is a division of Verisk’s ISO Crime Analytics unit.
CargoNet has aggregated and analyzed U.S. cargo theft incident data since January 2009. The data collection effort has resulted in a database with a growing number of detailed cargo theft reports. The 2010 CargoNet Cargo Theft Report provides a snapshot of cargo theft in the United States from 2009 to 2010. More than 1,000 cargo thefts occurred in 2010. The report includes information on stolen commodity type; theft incident location, date, and time; cargo origin and destination; and additional analysis based on more than 300 data points.
The report helps supply chain participants mitigate risk by pinpointing areas of vulnerability during the movement of goods, mapping patterns of theft from a “flow of goods” perspective, and providing guidance to improve supply chain security.
“One of the incremental victories we are seeing is in better and more detailed reporting from our constituents,” said Tony Canale, vice president of operations at CargoNet and a retired chief of police.
“The level of collaboration and communication is improving — a good indicator that we’re moving in a positive direction when combating cargo theft,” added Maurizio Scrofani, president of CargoNet.
Although CargoNet has collected significant amounts of international cargo theft data, this report focuses only on theft data for domestic U.S. incidents occurring within all 50 states and the District of Columbia.
A division of Verisk’s ISO Crime Analytics unit, CargoNet® helps prevent cargo theft and increases recovery rates through secure and controlled information sharing between theft victims, their business partners, and law enforcement. CargoNet is centered on a national database and information-sharing system managed by crime analysts and subject-matter experts. CargoNet applies an integrated, layered approach that exploits the weakness of cargo thieves at multiple points and includes integrated databases, a theft alert system, task force and investigations support, a tractor/trailer theft deterrence program, the TruckStopWatch® program, driver education and incentives, secondary-market monitoring and interdictions, crime trend analysis and loss control services, and training and education. More information on CargoNet can be found at www.cargonet.com.
About Verisk Analytics
Verisk Analytics (Nasdaq:VRSK) is a leading provider of information about risk to professionals in insurance, healthcare, mortgage, government, and risk management. Using advanced technologies to collect and analyze billions of records, Verisk Analytics draws on vast industry expertise and unique proprietary data sets to provide predictive analytics and decision-support solutions in fraud prevention, actuarial science, insurance coverages, fire protection, catastrophe and weather risk, data management, and many other fields. In the United States and around the world, Verisk Analytics helps customers protect people, property, and financial assets. For more information, visit www.verisk.com.
MWW Group (for Verisk Analytics)
Head of Investor Relations
Verisk Analytics, Inc.