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Cargo theft incidents fall, but losses surge to $304.6 million in Q2

Verisk CargoNet said there were 677 incidents in Q2, and it warned that organized groups are increasingly targeting shipment planning via business email compromise.

Reported · Written up by our desk · Property Insurance

Cargo theft incidents declined in the second quarter of 2026 compared with a year earlier, but the losses associated with the thefts rose sharply, according to Insurance Journal citing a Verisk CargoNet report.

Verisk CargoNet estimated Q2 2026 cargo theft severity at $304.6 million, more than double the $135.7 million reported for Q2 2025. The total stemmed from 677 incidents, and the average value of incidents with a reported commodity value was about $564,000, though the figure was influenced by a small number of multimillion-dollar losses.

The report said metal and high-end technology remained key targets. Copper was the most targeted metal, while thieves sought computer and networking equipment, components, and cryptocurrency mining hardware.

Verisk CargoNet also said business email compromise was the primary access point for many of the quarter’s most sophisticated schemes, enabling criminals to impersonate parties and alter shipment details. It reported fewer non-delivery schemes and fewer organized thefts of unattended, loaded trailers and ocean containers, with events classified as theft falling from 488 in Q2 2025 to 378 in Q2 2026 and fictitious pickup incidents slipping from 165 to 158.

Latest closeCopper $6.590 ▼0.1%

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