The global cargo insurance market is confronting a rapidly evolving risk landscape, as theft and transport-related fraud within international supply chains become increasingly sophisticated. Loss patterns are shifting in both nature and scale, compelling insurers to reassess underwriting strategies, risk management frameworks and security controls. What was once a largely physical threat has now expanded decisively into the digital domain.
Industry bodies including the International Union of Marine Insurance and the Transported Asset Protection Association (TAPA) for Europe, the Middle East and Africa have warned that cargo crime is no longer confined to hijackings, warehouse break-ins or simple pilferage. Instead, organised criminal networks are exploiting digital freight platforms, weak identity verification processes and technology-enabled deception to infiltrate legitimate logistics chains. As a result, insurers are seeing not only a rise in the number of claims, but also a marked increase in the average value of each loss.
According to TAPA intelligence, between 2022 and 2024 nearly 160,000 cargo-related crime incidents were recorded across 129 countries. Estimated losses run into several billion euros, underlining cargo insurance as one of the most exposed segments within marine insurance. While Europe and the Americas account for a high volume of reported cases, insurers are particularly concerned about the severity and organisation of attacks in parts of Latin America and Africa, where violence and coordinated criminal activity are more prevalent.
Summary of Cargo Crime Trends (2022–2024)
| Indicator | Data |
|---|---|
| Affected countries | 129 |
| Recorded incidents | Approximately 160,000 |
| Estimated losses | Several billion euros |
| High-risk regions | Latin America, parts of Africa |
| Primary loss drivers | Theft, fraud, identity deception |
The threat profile has changed significantly. Criminal groups now create fake transport companies, clone legitimate business profiles and use forged documentation to secure cargo through online booking systems and digital freight exchanges. This blend of physical theft and identity fraud has made cargo risks more complex and harder to detect at an early stage.
TAPA’s regional leadership has highlighted the growing use of counterfeit insurance certificates, spoofed email domains and near-identical websites designed to deceive shippers, brokers and insurers alike. The accelerating adoption of artificial intelligence is expected to make such schemes even more convincing and scalable, raising concerns about further escalation in loss severity.
For underwriters, the implications extend well beyond claim payments. Fraudulent carriers undermine due diligence processes, complicate subrogation efforts and increase the likelihood of multi-party disputes, particularly in cross-border losses. While digital freight platforms have improved operational efficiency, inadequate verification standards have emerged as a critical vulnerability.
In response, insurers and logistics stakeholders are advocating stricter identity and carrier verification, enhanced document authentication, and improved detection of abnormal booking or routing behaviour. Investment in secure infrastructure, disciplined route planning and adherence to recognised security standards is increasingly viewed as essential rather than optional.
Ultimately, modern cargo risk is no longer determined solely by geography. The future resilience of the cargo insurance sector will depend largely on the credibility of digital identities and the industry’s ability to distinguish genuine operators from increasingly sophisticated impostors.