JERSEY CITY, N.J., Nov. 3, 2011 (GLOBE NEWSWIRE) -- Verisk Analytics (Nasdaq:VRSK), a leading source of information about risk, today announced that CargoNet®, a member of the Verisk Analytics Family of Companies, assisted law enforcement in the recovery of more than $1 million of stolen cargo this week.
The operation started on Sunday, October 30, with notification to the CargoNet operations center of the theft of a load of televisions. CargoNet passed the notification and further intelligence to the California Cargo Theft Interdiction Program (CTIP) and acted as liaison between the theft victim and CTIP. The intelligence provided allowed CTIP to carry out targeted surveillance within an industrial area containing 140 potential storage locations. The resulting investigation and search led to the recovery of the stolen televisions as well as stolen property from seven other thefts, including electronics, building materials, household goods, and clothing.
"This is a great example of the industry supporting law enforcement operations through preplanning, the deployment of technology, and enhanced information sharing," said Sgt. Ken Huerta of CTIP. "The cooperation between CargoNet and CTIP is a great example of the sort of public-private partnership so critical to effective intelligence-led policing."
"A number of parties played a key role in the favorable conclusion to this case, starting with a logistics company with well-planned processes in place and technology from Transport Security, Inc.," added Anthony Canale, vice president of operations at CargoNet. "Both the immediate notification of CargoNet and the actions by CTIP that followed contributed to a successful outcome. It is an excellent case study of the role that planning and preparation play in the effective response to a cargo theft. If no action is taken until after a theft has occurred, the chances of success are slim." The value of the recovery is estimated to be more than $1 million. The case is ongoing pending several arrests. Images of the recovered property are available to the press.
The Cargo Theft Interdiction Program (CTIP) is a multi-jurisdictional task force that was created in 1990 to combat the ever-increasing cargo theft problem in Los Angeles County, as well as throughout all of California. The success of the CTIP team has proven that the surveillance and investigative abilities of a multi-jurisdictional team surpass that of a single agency. During 2010, the CTIP team recovered more than $18,492,000 in stolen cargo and recovered stolen vehicles. The team successfully arrested 50 suspects charged with the theft of stolen cargo and/or vehicles. Since the inception of the program, CTIP investigators have recovered more than $237 million in stolen property, more than 5,500 vehicles, and 1,850 cargos and have made more than 1,100 arrests through December 2010. For more information about CTIP, visit http://www.chp.ca.gov/programs/vtask.html
About Verisk Analytics
Verisk Analytics (Nasdaq:VRSK) is a leading provider of information about risk 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.
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Media Rich Tauberman MWW Group (for Verisk Analytics) 202-600-4546 Investor Relations Eva Huston Treasurer and Head of Investor Relations Verisk Analytics, Inc. 201-469-2142