With the approaching Fraud Forum at the Used Car Industry Summit focused on the subject, an insurance operation has now developed a tool to help dealers protect themselves during vehicle transportation.

Risk Theory, a platform of insurance distribution businesses, announced the launch of Dealer Transit, a new logistics solution designed to help dealerships mitigate the growing risk of vehicle theft during transit.

According to a news release, the program is backed by Risk Point, an underwriting platform specializing in insurance solutions for dealerships.

The company highlighted Dealer Transit integrates insurance protection with a technology-enabled transportation platform to provide dealerships with a secure and insured method of transporting vehicles.

Executives said this initiative reflects Risk Theory’s broader strategy of combining underwriting expertise, technology partnerships, and specialized programs to address emerging risks within the industries it serves.

Dealerships that utilize Dealer Transit and follow the endorsement requirements can receive several enhancements to their existing coverage, including:

—Expanded theft protection

—$0 deductible for total theft losses

—No loss run impact

—No additional costs

Risk Point said it has paid more than $15 million in transit-related theft claims in the past year, underscoring the scale of the exposure facing dealership operators and their insurers.

Nanci Valdez, who executive vice president of underwriting, explained that Dealer Transit was developed to address this business exposure by combining insurance enhancements with a controlled transportation booking.

“Dealer Transit represents a proactive solution to a growing industry problem,” Valdez said in the news release. “By integrating insured transit protections with a vetted vehicle transportation platform, we’re giving dealerships a safer and more predictable way to move inventory while reducing exposure to theft losses.”

Brandon Vernon, vice president of transportation at Dealer Transit, added, “Dealer Transit is designed to make the safer choice the easiest choice. Dealers maintain the same pricing structure while gaining stronger protection and a vetted transportation process.”

While insurance certainly has value, the industry also is looking for other solutions. It’s why Cherokee Media Group has organized the Fraud Forum for the opening day of the Used Car Industry Summit, which begins on April 13 in Miami.

Nine executives from the vehicle transport/logistics space have agreed to participate in an afternoon of dialogue meant to pinpoint specific fraud-related problems and create several recommendations to help curb losses. The executives include:

Casey Harmon of RunBuggy

Matt Bradley of Super Dispatch

Dana Randazzo of Auto Hauler Exchange

Alisha Buelt of ACERTUS

John Robertson of SYCN Auto Logistics

Jeremy Louisos of Pre-Owned Auto Logistics

Laney Sibble of Central Dispatch

Dave Sutton of Montway Auto Transport

Sam Goldenberg of AutoSled

Complete event details can be found at www.usedcarsummit.biz.