Hunton Insurance Recovery Blog

Theft in the cargo industry has skyrocketed in recent years. In the first half of 2024, cargo thefts rose 49 percent and the average loss per shipment by 83 percent. Given these dramatic spikes in cargo theft, policyholders whose operations rely on the safe transportation and trade of cargo should take steps to mitigate against the potential losses of a cargo-theft event. We discuss below the insurance coverage options available to policyholders that can help protect against the risks and losses associated with cargo-related theft if such a loss occurs.

For the trucking industry, heightened pressure to transport goods in a short amount of time means that any setbacks in the supply chain pose a major risk to the carrier’s assets or expose it to liability for damages. In a recent Supply Chain Brain article, Truckers: Does Your Current Insurance Program Suffice?, counsel Jorge R. Aviles and associate Jae Lynn Huckaba provide insight into the insurance coverage options available to transportation providers to protect against these supply chain risks.