Supply chain risk events across the United States and Canada rose over 15% in 2022 from the previous year, according to the latest data from CargoNet, with 1,864 thefts reported. This adds up to an estimated $223 million in cargo stolen in 2022 alone. The end of 2022 saw the highest amount of theft activity with 526 events in the fourth quarter – an increase of over 31% from Q4 2021.

These aren't petty thefts, either. The average value of the cargo stolen in each event was over $200,000. The items targeted in these heists most often included household goods, electronics and food and beverage, but vehicles and vehicle accessories, commercial and industrial items and building materials were also popular with criminals. These cargo thefts contribute to supply chain disruptions, which have had an effect on inflation.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Brittney Meredith-Miller

Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].