Verisk CargoNet estimates Q2 cargo theft losses jump to $304.6 million despite 26% drop in incidents
VRSK•Q2 cargo theft losses rise despite fewer incidents
Verisk CargoNet estimates Q2 2026 cargo theft losses jumped to USD 304.6 million despite incidents falling 26% year over year to 677.
Average loss on incidents with reported values reached USD 564,009, skewed by several multimillion-dollar thefts.
Theft-classified events dropped to 378 from 488; fictitious pickups edged down to 158 from 165.
Loss severity shifted toward high-value metals, with metal incidents rising to 80 from 54, led by copper.
Business email compromise remained a key enabler of shipment misdirection, sustaining exposure to extreme losses.
