Jersey City, N.J., September 12 2012 – Verisk Crime Analytics announced today the launch of national information sharing systems designed to help Canadian insurers and their policyholders combat the growing problems of cargo and heavy equipment theft. Verisk Crime Analytics is a unit of Verisk Analytics (Nasdaq:VRSK), a leading source of information about risk.
The CargoNet and National Equipment Register (NER) divisions of Verisk Crime Analytics are already supported by a number of leading Canadian insurers and fleets. Canadian law enforcement agencies have also expressed strong interest in using these services to assist in cargo and equipment theft investigations.
“The problem of equipment and cargo crime is getting worse and hurting the bottom lines of insurers and policyholders,” commented Greg St Croix, senior vice president and national risk consulting practice leader at Marsh Canada. “CargoNet and NER have had great success in the U.S., and I’ve been impressed by the amount of due diligence done by Verisk in assessing and responding to the different needs of the Canadian market. I’m encouraged to see the insurance industry taking a leading role to bring these solutions to the marketplace as benefits will be felt across numerous industries.”
“We’re thrilled to launch information sharing systems and services in Canada and are extremely gratified by the positive responses we’ve received from insurers, insurance brokers, fleets, and law enforcement,” added David Shillingford, president of Verisk Crime Analytics. “It’s a collaborative approach to information sharing that will significantly reduce cargo and equipment crime risk.”
CargoNet and NER help prevent theft and improve recovery rates through secure information sharing and collaboration among theft victims, their business partners, and law enforcement. Both solutions are centered on secure national databases and information-sharing platforms managed by crime analysts and subject-matter experts. Powerful analytical tools also allow the aggregate data to be analyzed to show and predict theft trends to support loss prevention and investigations. CargoNet and NER are supported in Canada by MSA Research, Inc.
A division of the Verisk Crime Analytics unit at Verisk Analytics (Nasdaq:VRSK), CargoNet® helps prevent cargo theft and improve recovery rates through secure and controlled information collection among theft victims, their business partners, and sharing crime information with 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 weaknesses 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. More information on CargoNet can be found at www.cargonet.com.
About National Equipment Register
A division of the Verisk Crime Analytics unit at Verisk Analytics (Nasdaq:VRSK), National Equipment Register (NER) helps equipment owners manage equipment risks. Since 2001, NER has helped thousands of equipment owners and their insurers deter theft and has enabled law enforcement to recover millions of dollars of stolen equipment through HELPtech®, a national equipment marking and registration program. In 2009, NER launched IRONcheck®, a machine-history search for used-equipment buyers. In 2011, NER launched IRONwatchTM, a no-monthly-fee GPS tracking and recovery device for mobile assets. NER’s data management skills and equipment expertise are also used by fleets to support compliance with new regulations. For more information, contact NER at 201-469-2030 or at [email protected]. You can visit the NER website at www.NER.net.
About Verisk Analytics
Verisk Analytics (Nasdaq:VRSK) is a leading provider of risk assessment solutions to professionals in insurance, healthcare, mortgage, government, and risk management. Using advanced technologies to collect and analyze billions of records, Verisk Analytics draws on vast industry expertise and unique proprietary data sets to provide predictive analytics and decision support solutions in fraud prevention, actuarial science, insurance coverages, fire protection, catastrophe and weather risk, data management, and many other fields. In the United States and around the world, Verisk Analytics helps customers protect people, property, and financial assets. For more information, visit www.verisk.com.