Verisk launches system to assist Canadian insurers

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Updated Sep 14, 2012

Verisk

Verisk Crime Analytics announced the launch of national information sharing systems designed to help Canadian insurers and their policyholders combat the growing problems of cargo and heavy equipment theft. Verisk Crime Analytics is a unit of Verisk Analytics, a source of information about risk.

“The problem of equipment and cargo crime is getting worse and hurting the bottom lines of insurers and policyholders,” said Greg St Croix, senior vice president and national risk consulting practice leader at Marsh Canada. “CargoNet and NER have had great success in the U.S., and I’ve been impressed by the amount of due diligence done by Verisk in assessing and responding to the different needs of the Canadian market. I’m encouraged to see the insurance industry taking a leading role to bring these solutions to the marketplace as benefits will be felt across numerous industries.”

The CargoNet and National Equipment Register divisions of Verisk Crime Analytics already are supported by a number of leading Canadian insurers and fleets. Verisk said Canadian law enforcement agencies also have expressed strong interest in using these services to assist in cargo and equipment theft investigations.

“We’re thrilled to launch information sharing systems and services in Canada and are extremely gratified by the positive responses we’ve received from insurers, insurance brokers, fleets and law enforcement,” said David Shillingford, president of Verisk Crime Analytics. “It’s a collaborative approach to information sharing that will significantly reduce cargo and equipment crime risk.”