JERSEY CITY, N.J., May 25, 2010 (GLOBE NEWSWIRE) -- Verisk Analytics
(Nasdaq:VRSK) announced today that LG Electronics is engaging
CargoNet(TM) as part of LG's supply chain security strategy. The
strategy consists of developing and implementing best practices,
employing cutting-edge security technologies, and improving cargo theft
information sharing with law enforcement. CargoNet is a division of
Verisk's new ISO Crime Analytics unit.
"The protection of the LG supply chain is a critical and strategic
issue because security breaches impact our operational effectiveness
and our brand," said Larry Monaghan, head of logistics at LG. "A vital
part of our strategy is to work closely with our transportation
providers to ensure they are aware of our policies and effective
resources to combat theft."
Monaghan cited information sharing about cargo theft as "a critical
factor in our industry."
"We must break down the barriers that have allowed ineffective
information sharing to play into the hands of criminals," said
Monaghan. "CargoNet is a secure, central channel to quickly share cargo
crime data and analysis with law enforcement."
A national database will only work if a critical mass of carriers uses
the system, according to Monaghan, who encourages all carriers to be
actively engaged in an additional level of security and collaborate in
the success of the initiative. "With broad industry support, we can
severely deter cargo crime and send a strong message of support to the
law enforcement officials we often turn to when thieves strike," he
"We're excited to collaborate with LG as it embarks on a farsighted
review of security and operational effectiveness," added Maurizio
Scrofani, managing director of CargoNet. "When managing risk within the
supply chain, we expect to see positive results through a comprehensive
'layering' of security efforts and standards."
About LG Electronics USA
LG Electronics USA, Inc., based in Englewood Cliffs, N.J., is the North
American subsidiary of LG Electronics, Inc., a global force and
technology leader in consumer electronics, home appliances, and mobile
communications. In the United States, LG Electronics sells a range of
stylish and innovative home entertainment products, mobile phones, home
appliances, and business solutions, all under LG's "Life's Good"
marketing theme. For more information, please visit www.LGusa.com.
A division of Verisk's ISO Crime Analytics unit, CargoNet(TM) helps
prevent cargo theft and increases recovery rates through secure and
controlled information sharing between theft victims, their business
partners, and law enforcement. CargoNet is centered on a national
database and information sharing system managed by crime analysts and
subject-matter experts. CargoNet applies an integrated, layered
approach that exploits the weakness of cargo thieves at multiple points
and includes integrated databases, a theft alert system, task force and
investigations support, a tractor/trailer theft deterrence program, the
TruckStopWatch(TM) program, driver education and incentives,
secondary-market monitoring and interdictions, crime trend analysis and
loss control services, and training and education. More information on
CargoNet can be found at www.CargoNet.com or firstname.lastname@example.org.
About Verisk Analytics
Verisk Analytics (Nasdaq:VRSK) is a leading provider of risk assessment
solutions to professionals in insurance, healthcare, mortgage,
government, and risk management. Using advanced technologies to collect
and analyze billions of records, Verisk Analytics draws on vast
industry expertise and unique proprietary data sets to provide
predictive analytics and decision-support solutions in fraud
prevention, actuarial science, insurance coverages, fire protection,
catastrophe and weather risk, data management, and many other fields.
In the United States and around the world, Verisk Analytics helps
customers protect people, property, and financial assets.
The Verisk Analytics logo is available at
CONTACT: MWW Group (for Verisk Analytics)
Verisk Analytics, Inc.
Eva Huston, Head of Investor Relations