Cargo theft in North America has surged to unprecedented levels since the COVID-19 pandemic. Experts have warned that both the scale and sophistication of losses are influencing insurance considerations across the transportation and insurance sectors.
Between 2022 and 2024, overall cargo theft surged 93%, while strategic theft (i.e., fraud-based schemes where criminals trick companies into handing over loads) jumped an astonishing 1,475%, according to CargoNet.
Strategic theft now represents about 40% of all cargo theft incidents, a dramatic shift from the single-digit share it held only a few years ago.
“I’ve been doing this for roughly 30 years, and right now cargo theft is the highest I’ve ever seen it,” said Scott Cornell (pictured), VP transportation at Travelers. “Between 2020 and 2022, cargo theft in the US fundamentally changed: how it’s done, where it’s done, and who does it.”
Cargo theft has long been cyclical, Cornell explained, spiking during times of disruption. Theft levels rose during COVID-19, which was no surprise to industry veterans.
“Traditionally, theft would go back down the following year,” Cornell said. “But this time it didn’t. In 2021, it only dropped 7%, and then we started to see the acceleration of new methods like strategic theft. That was the turning point.”
Whereas straight theft (i.e., physically stealing loads from truck stops, yards, or parking lots) once dominated, fraud-based crimes are now leading losses.
In many cases, thieves pose as legitimate carriers, using stolen or fabricated credentials to be awarded shipments. Once in control of the freight, they can divert it overseas. “With their international resale networks, they can move as much freight as they can steal,” said Cornell.
Food and beverage shipments remain the top target for criminals, with 180 incidents reported in Q2 2025 alone, a 68% year-over-year increase, according to CargoNet. Alcohol, energy drinks, and frozen meat are perennial favorites for cargo thieves because they can be consumed quickly, leaving little trace for investigators, according to Cornell.
Surprisingly, metals have become a hot target this year. CargoNet data shows copper theft nearly doubled in Q2 2025 compared with a year earlier, fueled by high global prices.
Cornell noted that metals theft is cyclical, but always present. “Sometimes we see odd commodities pop up: solar panels a couple of years ago, copper this year, refrigerators and vacuums last year. Often it ties to catastrophic events such as hurricanes, floods,” he said.
Ultimately, criminals are highly attuned to consumer demand and pivot quickly. “They know exactly what to steal and when,” Cornell said.
Cornell identified two schemes in particular that brokers and clients should understand:
Here, criminals impersonate legitimate carriers or brokers, often with convincing paperwork and federal motor carrier credentials. They win bids for loads, then hire legitimate drivers to pick up the shipment. Through fraudulent paperwork and cross-docking, the load is laundered and moved out of the supply chain.
“These schemes are so polished that sometimes only a sharp driver notices something’s wrong,” Cornell said. “Some of our best recoveries have started with a driver saying, ‘This doesn’t look right.’”
Instead of taking full truckloads, thieves steal a few pallets of high-value goods, often while drivers make their first stop after leaving a warehouse. Pilferage has surged in places like the California–Arizona corridor, where drivers stop for cheaper fuel.
“Pilferage crews wait for them at truck stops,” Cornell said. “They open the rear doors, grab a few pallets of electronics, and disappear. It’s lower risk than stealing an entire rig, but the returns can be huge.”
The rise in theft has significant consequences for underwriting and claims. CargoNet estimated total losses at more than $128 million in Q2 2025 alone, with the average stolen shipment valued at over $200,000. These figures do not include unreported cases, which means the true scale may be even higher.
Amid a surge in losses, underwriters are more closely scrutinizing insureds’ preventive measures when pricing coverage, and accounts that demonstrate strong protocols are better positioned, Cornell said.
Travelers, for its part, relies on its Special Investigations Group (SIG), a dedicated cargo theft team established in 2005. Since tracking began in 2009, the unit has recovered over $130 million in stolen freight.
“We partner with clients to prevent theft in the first place. We evaluate what measures they’re taking, whether they’re effective, and what more can be done,” said Cornell. “That expertise helps us build strong, long-term relationships with clients, and it gives us a sharper lens when we’re underwriting risk.”
Cornell shared a three-layered approach that brokers can encourage clients to adopt:
Beyond company-level measures, Cornell also urged logistics firms to participate in regional and national security councils to stay current on rapidly evolving theft methods.
“Cargo thieves constantly tweak and reinvent schemes,” he said. “If you’re not plugged into the latest intelligence, you’re always a step behind.”
