Cargo Theft Jumps 38.2%, Food and Beverages Top The List

The average loss in cargo thefts increased more than one-third during this year’s first quarter versus the comparable period a year ago, with food and drink topping the list of categories, according to logistics security services provider FreightWatch International Inc., reported Business Insurance, a business insurance newspaper. The findings indicate criminals’ “persistence and increasing sophistication,” according to FreightWatch International Inc. in its latest report. The food and drinks category again was the product type stolen most often stolen during the first quarter, accounting for 44 thefts or 21 percent of all incidents, according to the report. The average loss per incident during the quarter was $207,982, a 38.2 percent increase from 2013’s first quarter, although the number of full-truckload cargo thefts decreased 4 percent to 206, Austin, Texas-based FreightWatch said in its report.

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