Core Insights - The freight and logistics industry is facing a significant increase in vulnerabilities, particularly due to organized crime, with cargo theft incidents rising by over 57% in 2023, resulting in losses of $130 million [1][2]. Industry Overview - The complexity of today's supply chain creates opportunities for crime and fraud, necessitating that stakeholders, especially carriers and brokers, assess and manage their risks effectively [2][3]. Cybersecurity and Insurance Needs - Both motor carriers and freight brokers require cyber liability insurance that covers financial and physical loss of goods, reflecting the evolving nature of threats in the freight industry [3][6]. - A comprehensive insurance policy is essential for protecting businesses from financial losses due to deceit and theft, while also offering legal and logistical support to mitigate reputational damage [6]. Nature of Threats - The freight industry is experiencing sophisticated forms of crime, including cyber fraud, where tactics such as deep fakes and identity theft are employed to exploit vulnerabilities in the supply chain [4][5]. - Criminal activities have evolved from traditional wire fraud and phishing to large-scale theft, indicating a critical need for enhanced cybersecurity measures [5]. Case Examples - An example of freight fraud includes a case where thieves intercepted a refrigerated container and demanded a ransom of $40,000, highlighting the serious risks faced by the industry [7].