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GearTrack April Cargo Security Index Reveals Record Cargo Theft Levels in California, Florida, and Texas

1. Cargo theft rates surged in California, Texas, and Florida. 2. Reported thefts have increased by 34% in California, 17% in Texas and Florida. 3. Organized theft groups are becoming more sophisticated in their operations. 4. Verisk's CargoNet introduces RouteScore API for enhanced theft protection. 5. Economic pressures and tariff uncertainty contribute to rising theft incidents.

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Why Bullish?

The introduction of RouteScore enhances Verisk's offerings, expected to improve market position and revenues, especially given the increase in demand for security solutions. Historical trends show that enhanced service offerings often lead to stock price appreciation in tech-driven companies.

How important is it?

The article highlights significant industry changes that directly impact Verisk's operations and growth potential, thereby likely influencing investor sentiment and trading behavior.

Why Short Term?

Immediate demand for enhanced cargo security solutions due to rising theft trends, particularly noteworthy in commercial logistics sectors. Companies often react quickly to security needs, providing a near-term advantage.

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Surge in theft is attributed to rising economic pressures, tariff uncertainty, increased shipment volumes, and the growing sophistication of criminal networks April 28, 2025 11:17 ET  | Source: GearTrack ATLANTA, April 28, 2025 (GLOBE NEWSWIRE) -- The GearTrack April Cargo Security Index reveals that 54% of U.S. cargo theft incidents occurred in California, Florida, and Texas in March 2025. California’s reported cargo theft incidents increased by 34% month-over-month, while both Texas’ and Florida’s number of incidents increased 17% compared to February. Additionally, food and beverage were amongst the top targeted thefts, which included a thwarted heist of $55,000 worth of beef in Philadelphia along with household goods and automobiles. “Organized theft groups are developing new, innovative schemes—from non-delivery of loads to following freight trains along delivery routes—and even forging documents for fraudulent pick-ups,” said Ilan Gluck, General Manager of GearTrack. “Shippers needing to transport food and beverage, apparel and accessories, household goods, metals, and vehicles or autoparts should increase focus on route planning to ensure the safe, timely delivery of valuable goods.” April 2025 Cargo Security Index Highlights: 54% of reported cargo thefts occurred in the United States;California led all states with a 34% month-over-month increase in theft activity;Texas and Florida followed, each with 17% increases;Top targeted goods included food and beverages, household items, and vehicle accessories;Notable Case: An attempted theft of $55,000 worth of beef in Philadelphia. The Cargo Security Index is a strategic collaboration between GearTrack, a leader in intelligent supply chain monitoring, and CargoNet, a Verisk (Nasdaq: VRSK) business and the nation’s premier cargo theft recovery and analytics network. The Index provides monthly insights into emerging cargo theft trends, high-risk routes, regional crime heatmaps, and detailed analyses of organized theft activity, drawing on data from April 2025. It is designed to equip shippers, logistics providers, and insurers with the intelligence needed to stay ahead of increasingly sophisticated threats. Download the Full Cargo Theft Index here. “The surge in theft is attributed to rising economic pressures, tariff uncertainty, increased shipment volumes, and the growing sophistication of criminal networks,” said Gluck. “To combat these trends, GearTrack’s platform will now incorporate Verisk CargoNet’s RouteScore API—a proprietary risk-scoring algorithm that provides route-specific intelligence and customized protection recommendations based on theft trends, fraud patterns, and IoT-driven insights.” Sign up now to be the first to access the April 2025 Index and subscribe to receive future reports directly in your inbox. About GearTrackGearTrack is an end-to-end IoT-powered supply chain solution designed to track, monitor, and protect high-value and condition-sensitive assets in real-time. Trusted by industries from construction to consumer electronics, our platform is designed to provide asset-level tracking, alerting shippers to potential risks before they cause costly damage or delays. GearTrack helps companies stay ahead of problems, reduce downtime, and ensure on-time, in-full deliveries. To learn more, please visit GearTrack.io. About VeriskVerisk (Nasdaq: VRSK) is a leading strategic data analytics and technology partner to the global insurance industry. It empowers clients to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global risks, including climate change, extreme events, sustainability and political issues. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk helps build global resilience for individuals, communities and businesses. With teams across more than 20 countries, Verisk consistently earns certification by Great Place to Work and fosters an inclusive culture where all team members feel they belong. For more, visit Verisk.com and the Verisk Newsroom. Contact:Michaela Dildinemichaela.d@leadcoverage.com(561) 348-0443

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