Daily Insurance Industry News
Daily Insurance Industry News
Monday 19th of February 2018
May 4, 2010

Marginal decline in business crime

by Richard Kilner

Story link: Marginal decline in business crime

Marginal decline in business crime

The AXA Business Crime Index has shown a marginal 0.8% decline in the figures for reported business crime in 2009.

However, the modest fall is outweighed by the continuing rise of the cost of crime, and the fact that violence is used in more than half of incidents.

According to AXA’s information, 47% of UK businesses feel more vulnerable to crime than they were 12 months ago, citing the lack of respect in modern culture as the biggest single contributary factor.

An absence of community spirit was considered the second biggest factor, with the poor economic climate only ranking third.

Only two-thirds of businesses actually claimed on their insurance for crimes committed, suggesting that reported figures understate the actual number of crimes taking place.

To help combat violent crime almost a quarter of businesses have introduced or enhanced alarms and locks, or hired security personnel.

More than half state that local police have provided either little or no support at all, and over three-quarters have said that numerous governments have not understood the problems businesses face.

The average claim received by AXA is around £400, but this can be hugely exceeded, especially for crimes such as arson.

In November, AXA’s Business Crime Index revealed that areas particularly hard hit by recession, such as the North and West Midlands, were seeing a larger increase in business crime than elsewhere in the country.


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