Verisk CargoNet Reports Persistent Labor Day Cargo Theft Exposure Across U.S. Freight Networks
Verisk’s CargoNet analysis shows elevated Labor Day cargo theft risk shifting toward higher-value loads and increasingly identity-based fraud schemes.
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Rhea-AI Summary
Verisk (VRSK), through its CargoNet business, reported that U.S. cargo theft around Labor Day has stabilized at a higher baseline, with 273 incidents recorded across the 2021‑2025 holiday periods.
Incidents rose from 33 in 2021 to 56 in 2025, peaking at 70 in 2024. Theft clustered on the surrounding weekdays, with Thursday, Friday, Tuesday, and Wednesday accounting for 71% of cases. California, Texas, and Illinois made up 48% of incidents, and targeted commodities were led by food and beverage. Verisk CargoNet estimates total commodity value at about $31.8 million, and highlights a growing threat from identity‑based fraud in addition to traditional physical theft.
Details
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Key Figures
- Analyzed theft incidents
- 273 incidents
- Labor Day periods from 2021 through 2025
- Annual incident increase
- 70%
- 33 incidents in 2021 to 56 in 2025
- Five-year high
- 70 incidents
- 2024 Labor Day analysis period
- Peak theft day
- 55 incidents
- Friday during the analyzed holiday periods
- Surrounding-day concentration
- 194 incidents, or 71%
- Thursday, Friday, Tuesday, and Wednesday
- Top-state concentration
- 130 incidents, or 48%
- California, Texas, and Illinois
- Commodity value
- $31.8 million
- Estimated total value across the analysis
- First-half cargo theft losses
- $359 million
- Estimated losses in the first six months of 2026
Historical Context
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Launched database covering more than 2,500 U.S. data center facilities
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Reported stronger first-half underwriting gains across U.S. private P&C insurers
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Estimated global insured average annual catastrophe losses at $171 billion
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Highlighted rising European insured losses and a continuing protection gap
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Verisk responded to a Delaware Chancery Court ruling involving AccuLynx
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Key Terms
identity-based cargo theft technical
shipment misdirection technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Five-year Verisk CargoNet analysis underscores holiday exposure as theft methods become more selective and sophisticated
Key Takeaways
- Verisk CargoNet analyzed 273 theft events that occurred during the Labor Day holiday periods from 2021 through 2025.
- California, Texas, and Illinois were the most common states for activity, with major freight hubs and population centers continuing to drive risk.
- Theft activity clustered on the days framing the holiday rather than on the holiday weekend itself, with Thursday, Friday, Tuesday, and Wednesday accounting for
71% of all incidents. - Verisk CargoNet warns that holiday risk now includes both traditional theft of unattended freight and evolving identity-based fraud involving compromised phone systems, carrier accounts, and compliance platforms.
JERSEY CITY, N.J., Sept. 04, 2026 (GLOBE NEWSWIRE) -- As the Labor Day weekend approaches, cargo theft remains a persistent and elevated threat to freight moving across the United States. Verisk (Nasdaq: VRSK), a leading data analytics and technology provider to the global insurance industry, released an analysis today from its CargoNet business on Labor Day cargo theft incidents over the past five years. The analysis found that theft activity has settled at a materially higher baseline than at the start of the period, positioning the 2026 holiday weekend as another period of potentially heightened exposure.
Verisk CargoNet’s review of incidents reported during the Thursday-before through Wednesday-after Labor Day shows sustained theft activity, concentrated exposure in major freight markets, and an expanding mix of traditional and identity-based theft methods.
Verisk CargoNet recorded 273 cargo theft incidents across the five-day Labor Day analysis periods from 2021 through 2025. The annual count rose from 33 incidents in 2021 to 56 in 2025, an increase of
The timing of theft within the holiday period underscores unique exposure risks. Friday was the single most active day with 55 incidents, followed by Tuesday with 49, Thursday with 46, and Wednesday with 44. Together, the four days surrounding the holiday weekend accounted for 194 of the 273 incidents, or
The Labor Day threat is best understood as two overlapping risks. The first is physical exposure created when loaded freight sits at rest during closures or schedule disruptions. The second is verification exposure created when reduced staffing and time pressure make it easier for a criminal to impersonate a trusted carrier, alter shipment instructions, or insert fraudulent contact information into an otherwise legitimate transaction.
California, Texas, and Illinois accounted for 130 of the 273 incidents analyzed, or
The commodity profile also reflects resale opportunity. Food and beverage shipments led with 49 incidents, followed by household goods with 27, electronics with 25, vehicles and accessories with 20, and metals with 11. These categories combine steady illicit-market demand with products that can often be broken down, redistributed, or sold through multiple channels.
Verisk CargoNet estimates total commodity value across the analysis at approximately
Emerging Threat: Identity-Based Cargo Theft and Shipment Misdirection
Verisk CargoNet continues to observe organized groups combining traditional theft with technical deception. Criminals may compromise carrier accounts, software-based business phone systems, email accounts, or compliance-platform credentials so they can operate from inside channels that a broker or shipper normally considers trustworthy. This is more dangerous than simple spoofing because the fraudulent actor may possess authentic account access, recognizable contact details, and knowledge of active shipments.
The resulting theft may occur at tender, pickup, or after a legitimate carrier has taken possession. A criminal who changes a delivery address or contact after pickup can bypass controls that focus only on carrier selection.
In its July 4 holiday analysis, Verisk CargoNet estimated that cargo theft losses exceeded
Footnote: The Labor Day holiday analysis period consists of the Thursday before Labor Day through the Wednesday after Labor Day, 2021-2025.
About Verisk
Verisk (Nasdaq: VRSK) is a leading strategic data analytics and technology partner to the global insurance industry. It empowers clients to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global risks, including climate change, catastrophic events, sustainability and political issues. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk helps build global resilience for individuals, communities and businesses. With teams across more than 20 countries, Verisk consistently earns certification by Great Place to Work. For more, visit Verisk.com and the Verisk Newsroom.
Attachment
Mary Keller 339-832-7048 mary.keller@verisk.com Morgan Hurley 551-655-7858 morgan.hurley@verisk.com
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Verisk CargoNet report about Labor Day cargo theft trends for VRSK?
Verisk CargoNet reported that Labor Day cargo theft in the U.S. has settled at a materially higher baseline from 2021 to 2025, with 273 incidents across the five holiday periods. Activity concentrated on surrounding weekdays and involved both traditional theft and increasingly sophisticated identity‑based fraud schemes.
How many Labor Day cargo theft incidents did Verisk CargoNet analyze from 2021 to 2025?
Verisk CargoNet analyzed 273 cargo theft incidents that occurred during the Thursday‑before through Wednesday‑after Labor Day periods from 2021 through 2025. The annual count increased from 33 incidents in 2021 to 56 in 2025 and reached a five‑year high of 70 incidents in 2024.
Which U.S. states had the most Labor Day cargo theft incidents in Verisk CargoNet’s study of VRSK data?
California, Texas, and Illinois were the most affected states in Verisk CargoNet’s Labor Day analysis, accounting for 130 of 273 incidents, or 48% of the five‑year total. California recorded 70 incidents, Texas 38, and Illinois 22, reflecting risks around major freight hubs and population centers.
On which days around Labor Day does Verisk CargoNet see the most cargo theft activity?
Verisk CargoNet found that theft activity clustered on the days framing the holiday. Friday had 55 incidents, Tuesday 49, Thursday 46, and Wednesday 44. These four weekdays accounted for 194 of 273 incidents, or 71% of the five‑year total, while the weekend itself was comparatively quieter.
What types of commodities are most targeted in Labor Day cargo theft according to Verisk CargoNet?
Food and beverage shipments were the most targeted, with 49 incidents, followed by household goods (27), electronics (25), vehicles and accessories (20), and metals (11). Verisk CargoNet states these categories have strong resale potential and can often be broken down or redistributed through multiple channels.
How much cargo value was at risk in Verisk CargoNet’s Labor Day analysis and what did it estimate for early 2026?
For the 2021‑2025 Labor Day periods, Verisk CargoNet estimates total stolen commodity value at approximately $31.8 million. In a separate July 4 analysis, it estimated cargo theft losses above $359 million in the first six months of 2026, with average stolen commodity value around $341,518.
What is identity-based cargo theft as described by Verisk CargoNet?
Verisk CargoNet describes identity‑based cargo theft as schemes where criminals compromise carrier accounts, business phone systems, email, or compliance‑platform credentials to pose as trusted parties. This allows them to alter shipment instructions or delivery details and steal freight at tender, pickup, or after a legitimate carrier has taken possession.