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Media Advisory - New program aims to take a bite out of $5 billion problem of cargo theft

Insurance Bureau of Canada joins forces with Canadian Trucking Alliance, police forces to announce details – Tuesday, March 18

TORONTO, March 13, 2014 /CNW/ -

WHAT:        

Insurance Bureau of Canada (IBC) is joining forces with the Canadian Trucking Alliance (CTA) and Peel Regional Police to announce details about the launch of a national program to combat the huge and growing problem of cargo theft (i.e., stealing trucks or trailers full of merchandise).



WHY:         

The increase of cargo theft across the country has become a significant issue in transportation hubs such as southern Ontario, Montreal and Vancouver. A 2011 study commissioned by the CTA pegged the cost of cargo crime at $5 billion per year and linked cargo theft to organized crime, which uses the proceeds of cargo theft to fund their other illegal activities.




A low-risk, high-reward crime, cargo theft often goes unreported. As a result, property recovery and prosecution become even more of a challenge. This crime directly affects local and Canadian economies, the trucking industry, the retail sector, insurers and law enforcement resources.




In 2011, IBC's Investigative Services began a pilot reporting project with member insurers and the CTA to collect, analyze and share cargo loss information with law enforcement agencies primarily in Ontario and Quebec. The project was an important first step in gathering consistent information on these crimes and led to several significant recoveries of stolen trailers and consumer goods. 




Building upon this success, IBC will provide details about the national expansion of the Cargo Reporting Program and how it will further help to recover stolen goods and bring cargo theft criminals to justice. Participants in the news conference will also discuss why the average Canadian should be concerned, how cargo theft affects businesses and what law enforcement initiatives are underway, as well as success stories.



WHO:         

Garry Robertson, National Director, Investigative Services, Insurance Bureau of Canada


David Bradley, CEO, Canadian Trucking Association


Superintendent Bob Devolin, Peel Regional Police



WHEN:       

Tuesday, March 18, at 10 a.m.



WHERE:     

Canadian Trucking Alliance offices, 555 Dixon Road (at Martin Grove), Toronto

 

About Insurance Bureau of Canada
Insurance Bureau of Canada (IBC) is pleased to celebrate 50 years as a valuable resource for insurance information. Since 1964, IBC has been working with governments across Canada to make our communities safer, championing issues that directly affect Canadians and the property and casualty (P&C) insurance industry. IBC is the national industry association representing Canada's private home, car and business insurers. Its member companies represent 90% of the P&C insurance market in Canada. The P&C insurance industry employs over 118,600 Canadians, pays more than $7 billion in taxes and levies to the federal, provincial and municipal governments, and has a total premium base of $46 billion.

To view media releases and information, visit the media section of IBC's website at www.ibc.ca.

SOURCE Insurance Bureau of Canada

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