GreenPoint Insights Trucking Freight Risk Management

Trucking Freight Industry is Massive with Rising Vulnerabilities

In 2023, the US transportation system across all modes moved a daily average of 56M tons of freight valued at more than $51B. This is equivalent to 20B tons or $19T dollars of freight moved annually.

Keeping this massive flow of goods on track presents a formidable challenge, as supply chains face constant threats from theft, fraud, mishandling, natural disasters, and other risks. These losses cost the US supply chain hundreds of billions of dollars each year.

Within the US freight movement, trucking is by far the most dominant mode, carrying ~70% of all goods and values. Unfortunately, trucking freight is increasingly becoming vulnerable. For example, in 2024, trucking theft alone cost the US and Canada $450M across +4K incidents. Given not all theft is reported or recorded, actual theft losses are estimated to be over $1B. Alarmingly, truck thefts are rising at a record pace, up 27% YoY.

‍Trucking freight risk management is therefore a must-have, not a nice-to-have.

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