‘Tis the season to beware of pharmaceutical thieves
Over the past few weeks we have received various warnings from cargo and transit insurance companies along with FreightWatch International regarding potential thefts of drugs and pharmaceutical shipments. Intelligence was released last week by the N.E. Transportation Security Council that five members of a Florida-based cargo theft crew were arriving in New Jersey on Wednesday with the intent of committing a cargo theft somewhere in the Northeast (NJ, PA, MD, NY, IL, CT, OH). Assuming they already scouted the target location in the past and will commit the theft over the next several days or the Thanksgiving holiday weekend. Back on November 10th, a full truckload of pharmaceuticals was stolen from a rest area in Kentucky when it was left alone alongside the exit ramp because the parking spaces were full. The truck was reportedly left unattended for just 15 minutes and the theft occurred approximately 225 miles from the shipment’s point of origin. The full value for this loss has not yet been established yet but is reported to be worth several million dollars.
Some recommendations from the experts to avoid such theft losses include:
- Having employees keep alert for suspicious activity
- Remind employees of proper protocol when responding to burglar alarms
- Remain vigilant and report any suspicious activity to local Police Department
- If you have closed facilities over the extended holiday weekend, you may want to hire additional security personnel
- Do not ignore “false alarms” at premises
- Keep stringent policies, such as not leaving high value loads unattended while in-transit
- Parking in only pre-approved locations
About the Author
Amy Sinclair is a Senior Vice President and co-leader of the Life Sciences Practice in WGA’s Property and Casualty Group. She negotiates, implements and manages comprehensive insurance programs for a variety of clients, ranging from venture-backed start-up organizations up to publicly traded companies.