Keep your cargo safe

Keep your cargo safe

Cargo theft continues to be a significant disruptor to the profitability and business growth of UK companies. A new report by BSI group and the National Vehicle Crime Intelligence Service (NaVCIS) has reported a total of 388 incidents in the second quarter of 2017 with Northamptonshire, Leicestershire, and Kent seeing the highest rates, followed by Essex and Nottinghamshire.

There also seems to be a clear trend appearing in respect of the most regularly stolen goods:

 

      1. Apparel products

      2. Food & beverages

      3. Electronics

 

In addition, fuel theft from parked trucks is on the increase. It appears that when oil prices are high the theft of fuel increases dramatically.

Cargo trucks carrying soft sided trailers are by far the biggest target with 72% of cargo thefts carried out using a ‘slash & grab’ system, where thieves cut the tarpaulin to steal goods. However, hard sided trucks are not immune, with several incidences of trailer locks being broken to gain entry.

Victims of these incidents are also reporting a worrying trend of violent or threatening behaviour towards drivers, with several incidents reported.

Interestingly almost 33% of all thefts occur within the M1 corridor, with Wednesdays and Fridays the worst days. It stands to reason, therefore, that the easiest way to reduce your cargo theft risk is to avoid the M1 on Wednesdays and Fridays and not operating within any of the 5 counties above. Easy, right?

Overall theft values for the 2nd quarter amounted to some £11,310,859, an average loss of c£29,151 per theft. The biggest loss in the quarter was the theft of £245,000 of TV sets from a truck parked in a layby.

Marine Cargo & Transit insurance is available to support your business from the financial impact of a cargo theft. In view of the violent attacks on drivers perhaps companies should also consider the use of personal accident cover to provide support to drivers if they suffer an attack.

As always, if you have any queries or wish to discuss this matter further please contact your usual Account Director, call our office on 01473 727800, email us at info@ataib.co.uk, or tweet us @atains

For further reading please access the full report from BSI here.