Left Navigation Cargo Theft Each year, cargo theft costs the Canadian economy $5 billion. All too often, cargo theft goes unreported. IBC leads a national cargo theft reporting program with the Canadian Trucking Alliance (CTA). What is Cargo Theft?Cargo theft involves stealing trucks and transport trailers full of merchandise. After stealing the vehicle or trailer, the criminals offload the cargo, which can be worth thousands of dollars, parcel it and sell it for a quick profit, often before the crime is reported. This low-risk, high-reward crime is a significant problem across the country. Transportation hubs in southern Ontario, Montreal and Vancouver are prime targets for these organized theft operations. Recognize and Report ItHelp IBC fight cargo theft across Canada. To report stolen cargo: Make an anonymous phone call to 1-877-IBC-TIPS (422-8477), which operates day and night Complete and submit an anonymous Cargo Theft Incident Report Form Contact an IBC Consumer Information Officer In March 2014, IBC and CTA launched a national cargo theft reporting program that is open to all insurers operating in Canada, including IBC members and non-member companies. The program improves information-sharing among insurers, law enforcement, the trucking community and other stakeholders to assist in the recovery of stolen goods and bring criminals to justice. Watch an IBC representative speak about the goals of IBC/CTA’s cargo theft initiative. Cargo Theft Costs EveryoneIf cargo theft goes unreported, property recovery and prosecution becomes a challenge. Cargo theft cheats consumers, retailers, insurers and the trucking community, and wastes law enforcement resources. A 2011 study commissioned by CTA pegs the cost of cargo crime at $5 billion per year and links cargo theft to organized crime. Thieves use the proceeds of cargo theft to fund organized criminal activities, such as gun and drug smuggling. IBC and CTA: National Cargo Theft Reporting Program Related ServicesEmployee TheftWhile it may be difficult to consider employees or volunteers as a potential threat to your organization, theft from within the organization does happen. Specialized crime coverage is available to mitigate the risk of internal theft and fraud. Useful LinksBusiness Insurance CoverageInsurance protects you from losses that may pose a significant threat to your business operations. A major loss to one organization may be a trivial loss to another. When selecting coverage, deductibles and policy limits, there are many factors to consider.Business InterruptionYour ability to generate sales could be threatened at any moment. With business interruption coverage, a business owner can collect the income he or she would have expected to generate were it not for the unexpected event.Commercial PropertyProtecting your commercial property is critical to your businesses financial stability.