Rising cargo theft across Canada is prompting insurers to take a harder look at trucking operations, with fleets facing increased scrutiny over security protocols, tracking technology and risk-management practices as claims continue to climb.
Speaking at the Private Motor Truck Council of Canada’s annual conference in Niagara Falls, Ont., Maria-Christina Sorbo-Mayrand, an associate with Miller Thomson, said cargo theft, cyber threats and the growing use of telematics are reshaping how insurers assess risk throughout the supply chain. At the same event, a security technology provider warned fleets that preventing theft increasingly requires a shift from reactive measures to predictive and prescriptive security strategies.
“Insurance and risk management are strategic operational issues, not just legal or administrative tasks,” Sorbo-Mayrand said. “If you spend a little bit more time with your insurance broker or your insurance companies before having issues, once the issues do arise, and issues will always arise, it’s much easier to handle.”
