Canadian Underwriter

IBC cargo theft reporting database helps police recover $1.4 million in stolen property

July 15, 2014   by Canadian Underwriter

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A recent police raid helped identify roughly $1.4 million in stolen property from 15 separate cargo load thefts over the past several months, the Insurance Bureau of Canada said Tuesday.

“Multiple search warrants were executed on warehouses in the City of Vaughan and the City of Toronto,” York Regional Police reported in late June following the raid.

“As a result of the warrants, 15 loads of cargo were recovered which contained merchandise including baby products, barbecues, household appliances, cleaning supplies, tools, musical instruments, forklifts, vehicle antifreeze and a baby grand piano.”

IBC’s cargo theft reporting database helped insurance companies and law enforcement with the return of the property, according to a release from the organization on Tuesday.

“This is an excellent example of the effectiveness of our process,” Garry Robertson, IBC’s national director of investigative services commented in the release.

“With the help of IBC’s program, police were able to quickly identify the source of the stolen goods and return them to their rightful owners.”

Through the program, all property and casualty insurers in Canada, as well as trucking association members, can report cargo thefts online directly to IBC.

IBC acts as a clearinghouse for cargo theft data, and collects, analyzes and shares information with a national network of law enforcement partners including Canadian and American border agencies.

IBC recently expanded its cargo theft reporting program nationwide. In partnership with the Canadian Trucking Alliance and supported by law enforcement, it aims to fight what the groups say is a rapidly escalating crime costing Canadians up to $5 billion a year.

Cargo theft is particularly a significant problem in transportation hubs in southern Ontario,Vancouver and Montreal, according to IBC.

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