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Cargo thefts have doubled from last year: IBC

November 30, 2015   by Toronto Star

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The weeks leading up to Christmas are prime time for cargo theft.

In 2014, the IBC saw 200 reported thefts. This year, there are already more than 400, which is primarily just in southern Ontario.

Read: Putting a stop to highway robbery

And those figures only include reported thefts. Some transportation companies, the IBC’s national director of investigative services Garry Robertson told CTV, will absorb the losses to avoid reputation damage and increased premiums.

The Ontario Trucking Association estimates thieves are stealing $5 billion worth of cargo each year, up from $1 billion a decade ago.

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This story was originally published by Canadian Insurance Top Broker.