CargoNet Anti-Theft Group Joined By Allianz

NU Online News Service, Dec. 1, 1:17 p.m. EST

Allianz Global Corporate & Specialty Marine Insurance Company announced it has joined in the CargoNet organization that is being formed to combat cargo theft.

Insurance Services Office and the National Insurance Crime Bureau announced plans in September to create CargoNet as a national information-sharing system that will network existing databases and add secure reporting and analytic functions to help stop and apprehend cargo thieves.

There is a $15 billion annual cost to U.S. businesses from cargo theft, Allianz said.

The company noted that the CargoNet initiative is being built to allow manufacturers, retailers, transportation companies and their insurers to be able to quickly and accurately share cargo theft information with law enforcement agencies.

Plans call for the operation to be launched early next year with CargoNet centered on a national database and information-sharing system, Allianz said.

The firm said the initiative will also provide broader education and theft prevention services.

Information on CargoNet is online at www.iso.com/cargonet.) Among items it mentions as under development:

o Adhesive decals and magnetic labels for cargo containers to show thieves that the assets of companies participating in CargoNet are a higher risk.

o A neighborhood TruckStopWatch program to focus on truck stops and train employees to spot suspicious activity and to create incentives for employees and drivers to take action.

o Driver education and incentives with specialized training, alerts and a tips hotline keep drivers prepared to avoid theft.

o Theft alerts elevate awareness, and tracking systems scan the Internet for attempts by thieves to sell stolen cargo.

o An online meeting place for law enforcement, insurers and truck owners creating a virtual community of stakeholders to serve as a conduit for theft alerts and online learning.

Hugh Burgess, global marine head for the Americas of AGCS, commented, "Our charter membership in CargoNet is clear evidence of Allianz's leadership in marine insurance and supports our resolve to embrace new and cost-effective ways to help our clients minimize the many risks that we insure. This strategic alliance will also allow us to help our clients improve overall supply chain integrity."

CargoNet will be managed by Insurance Services Office and investigations support and law enforcement liaison will be coordinated by the National Insurance Crime Bureau (NICB).