JERSEY CITY, N.J., and Des Plaines, Ill., July 29, 2015 — On July 9, 2015, the U.S. Attorney’s Office in the Southern District of Indiana announced the unsealing of a 23-count indictment charging eight individuals in an organized scheme to steal tens of millions of dollars in merchandise from cargo shipments moving through Indiana and other states. The announcement acknowledged that “two private entities, CargoNet and the National Insurance Crime Bureau (NICB), also significantly assisted in the investigation.” CargoNet is a division of Verisk Crime Analytics, a Verisk Analytics (Nasdaq:VRSK) business.
“The actions of multiple law enforcement agencies not only resulted in these indictments but also served to disrupt the future activities of such criminals, resulting in lower rates of cargo theft that impact logistics companies and their insurers,” noted Jim Schweitzer, senior vice president and chief operating officer of the NICB.
“The involvement of so many police agencies demonstrates the need for, and benefits of, this kind of extensive cross-agency cooperation in combating cargo theft,” added Anthony Canale, vice president of operations at Verisk Crime Analytics. “The success of this investigation underscores the importance of a national database that helps law enforcement ‘connect the dots.’”
Both the NICB and Verisk Crime Analytics value public-private alliances that allow for critical information to be exchanged quickly and securely between industry and law enforcement. Both Schweitzer and Canale commented that “This type of cooperation and communication would not be possible without the support of CargoNet’s and the NICB’s member companies from insurance and supply-chain-related industries.”
About Verisk Crime Analytics
Verisk Crime Analytics is a leading provider of crime prevention services for retailers, manufacturers, motor carriers, logistics companies, equipment owners, and insurance companies and offers data and analytical support to law enforcement. Verisk Crime Analytics provides a comprehensive suite of data management, analytic, and theft prevention services that include prediction, mitigation, response, and recovery. Verisk Crime Analytics is a Verisk Analytics (Nasdaq:VRSK) business.
About the National Insurance Crime Bureau
Headquartered in Des Plaines, Illinois, the NICB is the nation’s leading not-for-profit organization exclusively dedicated to preventing, detecting, and defeating insurance fraud and vehicle theft through data analytics, investigations, training, legislative advocacy, and public awareness. The NICB is supported by more than 1,100 property and casualty insurance companies and self-insured organizations. NICB member companies wrote $395 billion in insurance premiums in 2014, or more than 78 percent of the nation’s property/casualty insurance. That includes more than 93 percent ($176 billion) of the nation’s personal auto insurance. To learn more visit www.nicb.org.
Giuseppe Barone/Colleen Finley
MWW Group (for Verisk Crime Analytics)
Frank G. Scafidi
Director, Public Affairs
National Insurance Crime Bureau
916.979.1510 (Sacramento, CA)