USA: RLI Marine Joins CargoNet as Charter Member to Prevent Cargo Theft

RLI Corp. announced that its marine division has joined CargoNet®; a network that battles cargo theft through data sharing between private industry and law enforcement. As a CargoNet charter member, RLI Marine joins the national initiative centered on secure information sharing, education and training, and loss prevention tools.

“Cargo theft in the U.S. is a billion-dollar a year problem. The sharing of cargo theft incident information between private industry and law enforcement will help combat that problem,” said Robert Schauer, president of RLI Marine. “Joining CargoNet is another way that we can help our insureds improve their overall supply chain reliability and security, as well as lower their insurance costs.”

“It is forward-looking insurers like RLI that drive the force needed to confront this country’s supply-chain interruption problem,” said Gary Rivell, vice president of insurance services at CargoNet. “RLI’s charter membership upholds its time-honored pledge to help policyholders reduce and control business-related risks.”

A division of Verisk’s ISO Crime Analytics unit, CargoNet helps prevent cargo theft and improve recovery rates through secure and controlled information sharing among theft victims, their business partners, and law enforcement. CargoNet is centered on a national database and information-sharing system managed by crime analysts and subject-matter experts. By applying a synchronized, layered approach, CargoNet exploits the weakness of cargo thieves at multiple points. CargoNet offers integrated databases, a theft alert system, task force and investigations support, a tractor/trailer theft deterrence program, and the TruckStopWatch® program. CargoNet also provides driver education and incentives, secondary-market monitoring and interdictions, crime trend analysis and loss control services, and training.

About RLI Corp.

RLI, a specialty insurance company, offers a diversified portfolio of property and casualty coverages and surety bonds serving niche or underserved markets. RLI operates in all 50 states from office locations across the country. RLI’s insurance subsidiaries – RLI Insurance Company, Mt. Hawley Insurance Company and RLI Indemnity Company – are rated A+ “Superior” by A.M. Best Company and A+ “Strong” by Standard & Poor’s. RLI’s new subsidiary, Contractors Bonding and Insurance Company, is rated A “Excellent” by A.M. Best Company. RLI is recognized as one of the insurance industry’s top performing companies by its designation as a Ward’s 50® Top P&C Performer and has been a member of the group for 20 straight years since the list’s inception in 1991.

About ISO

Since 1971, ISO has been a leading source of information about property/casualty insurance risk. For a broad spectrum of commercial and personal lines of insurance, the company provides statistical, actuarial, underwriting, and claims information; policy language; information about specific locations; fraud-identification tools; and technical services. ISO serves insurers, reinsurers, agents and brokers, insurance regulators, risk managers, and other participants in the property/casualty insurance marketplace. ISO is a member of the Verisk Insurance Solutions group at Verisk Analytics.

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Source: RLI Marine, June  20, 2011