(May 1, 2012) -- While the risk of collisions in terms of insurance
claims has been tapering off, risk posed by cargo theft is growing
significantly, according to research conducted by Travelers insurance
company in the U.S.
According to the numbers, collisions remain the number one risk, but
it's been on the decline as a result of improved vehicle safety
technology, driver training, and tougher regulations such as CSA.
At the same time, as carriers attempt to diversify into new markets
to offset declining economic performance, cargo theft exposure has been
on the rise.
Travelers' Sam Rizzitelli told Fleet
Owner that in recent years some carriers are hauling more unfamiliar
cargo with risks they have never dealt with.
"There's a lot more theft happening because it’s
profitable,” he told the magazine. "It's also a kind of risk
exposure that many carriers and shippers erroneously feel is difficult
to defend against; many feel helpless in some ways against it, but that
doesn’t have to be the case."
That "unfamiliarity" is why cargo damage risk exposure is rising as
well, Rizzitelli said.
"When carriers transport cargo on unfamiliar routes, they may face
exposures from seasonal weather or climate change. Thus it's important
that they are aware of how to effectively protect cargo from spoilage or