Search
 

Wheeling and Stealing

Thieves broke into a truck parked in a hotel lot and made off with a large shipping crate.

By Tim Tuller | Updated on August 31, 2009

Thieves broke into a truck parked in a hotel lot and made off with a large shipping crate. They were probably expecting a typical haul of consumer goods like video game players or expensive wine, which could be profitably unloaded to unscrupulous purchasers. Their pleasure at the easy getaway quickly turned to dismay when they discovered the contents. When the thieves opened the crate, they were faced with a masterpiece. A $1 million Goya painting created in 1778, to be precise. The art was being shipped from an Ohio museum to an exhibition in New York. This story may have had a tragic conclusion. In this case, instead of trying to fence the stolen artwork, the thieves used a go-between to alert police about where to recover the undamaged canvas.

The uncommon ending to this tale occurred two years ago. Unfortunately, recoveries like this are rare, and truck cargo theft is a category of crime that continues to rise. According to the National Cargo Security Council, cargo theft is estimated to account for up to $25 billion in direct merchandise losses each year. It is a cost that neither businesses nor insurers can afford, especially in today’s shrinking economy.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.