updated 3/21/2011 10:17:07 AM ET 2011-03-21T14:17:07

JERSEY CITY, N.J., March 21, 2011 (GLOBE NEWSWIRE) -- CargoNet®, a leading source of information about supply chain risk, has received a 2011 Innovation Award from Business Insurance magazine. Verisk Analytics is a leading provider of information about risk to professionals in insurance, healthcare, mortgage, government, supply chain, and risk management. CargoNet is a division of Verisk's ISO Crime Analytics unit.

"We are thrilled and honored to receive this award, but a great deal of the credit must go to the insurance companies that asked us to seek ways to combat cargo theft and who were willing to support our efforts from day one," said David Shillingford, president of ISO Crime Analytics.

"The support for CargoNet from manufacturers, retailers, and logistics companies also allowed us to quickly demonstrate the power of a platform that allows insurers and their policyholders to quickly and securely share detailed theft information with law enforcement and to obtain new and unparalleled visibility for this growing supply chain risk," said Maurizio Scrofani, president of the CargoNet division. "The selection of CargoNet for a 2011 Business Insurance Innovation Award reinforces that we are on the right track in mitigating supply chain risk across all industries."

"Business Insurance is pleased to recognize innovation by companies and organizations providing services to risk managers. As business processes become more complicated, risk managers face a challenging array of problems and exposures that require the type of innovative solutions our award program honors," said Gavin Souter, editor of Business Insurance.

About CargoNet

A division of Verisk's ISO Crime Analytics unit, CargoNet® 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® 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 .

About Business Insurance

Business Insurance is an international publication serving the news and information needs of executives in risk management, employee benefits, and commercial insurance through a weekly print magazine, daily online at www.BusinessInsurance.com , and through live events, including the Risk Management Summit and Innovation Awards. Business Insurance, a Crain Communications Inc. publication, has been published continuously since 1967.

CONTACT: Susan Kenney/Jessica Riccardi
         MWW Group (for CargoNet)
         (201) 507-9500
         skenney@mww.com
         jriccardi@mww.com

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

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