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, unveiled the Travelers Sting Trailer on Monday, Sept. 8, at the 2008 Chicago Midwest Cargo Theft Summit.
“The transportation industry is plagued by cargo theft,” says Dick Rowley, president of Travelers Inland. “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. 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.”
According to the National Cargo Security Council, cargo theft is estimated to account for up to $25 billion in direct merchandise losses each year. The Travelers Sting Trailer was built to provide the required evidence to aid in successful apprehensions of organized cargo theft rings. Travelers says it worked closely with 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,” says 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 today, Sept. 9, 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.
Travelers Inland, based in Hartford, Conn., brings together underwriting, engineering, claim and investigative professionals to help address the complex risk management and insurance needs of its customers, which may range from tailored insurance coverage and theft reduction strategies to timely claim settlements and even faster theft recoveries.