Équité Association Releases its Inaugural Cargo and Heavy Equipment Theft Trend Report

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‍TORONTO, June 26, 2024 - Équité Association, Canada's national authority on insurance crime, released a new report detailing the scope and impact of cargo and heavy equipment theft across the country today. Équité maintains Canada’s only cargo theft database with information on stolen trucks, trailers, cargo, and heavy equipment.

The Cargo & Heavy Equipment Theft Trend Report analyzes theft trends between 2019-2023; the report reveals that the theft of trucks, trailers, and cargo loads totaled an estimated value of over $531 million. The insurance industry, transportation, and consumers bear the financial impact of these thefts through increased premiums, increased cost of retail goods, and strain on availability of transportation vehicles, such as trucks and trailers.

"Cargo theft is an invisible property crime with a significant impact on our economy and public safety," said Bryan Gast, Vice President, Investigative Services, Équité Association. "This report provides valuable insights to help us understand this crime and develop effective strategies to combat it."

Cargo and heavy equipment theft is sometimes referred to as an ‘invisible property crime’, however, there is a public safety risk to these thefts as cargo thieves do not have the training to operate large trucks/trailers and are travelling the roadways alongside unsuspecting drivers. On behalf of the property and casualty (P&C) insurance industry, Équité works with law enforcement, retailers, and other stakeholders to develop solutions to reduce thefts and increase recoveries of cargo and heavy equipment.

Key findings of the report include:

• Over $239 million in stolen cargo and equipment remains unrecovered
• The average value per recovered cargo load is $114,000
• The top five cargo theft hotspots are Mississauga, Brampton, Vaughan, Toronto, and Montreal
• Heavy equipment theft is on the rise due to machinery shortages
• Équité plays a vital role in combating cargo theft by maintaining a national database, issuing alerts to law enforcement, and collaborating with industry stakeholders

The report encourages the continued collaboration between law enforcement, insurers, retailers, and the transportation industry to promote efforts to reduce cargo and heavy equipment theft.

About Équité Association

Équité Association is a not-for-profit, national organization, supporting Canadian property and casualty (P&C) insurers. Équité combats the multi-billion-dollar insurance crime problem that exploits vulnerable Canadians through advanced analytics, intelligence best practices, and coordinated investigations. Delivering improved service and fraud analytics for vehicle, property, and cargo recovery to its members, Équité collaborates with law enforcement, partners and industry organizations to protect Canadians against exploitation. Learn more about Équité Association at https://www.equiteassociation.com/.

Media Contact: Michelle Robichaud, Director, Media Relations & Member Engagement, media@equiteco.ca.

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