Daily Insurance Industry News
Daily Insurance Industry News
Wednesday 21st of November 2018
May 6, 2010

Business crime numbers remain level

by Gill Montia

Story link: Business crime numbers remain level

Business crime numbers remain level

In its latest business crime Index AXA reports a small decrease (-0.8%) in the number of reported business crimes in 2009, compared with a year earlier.

However, almost a half of business owners surveyed felt their firms are more vulnerable to crime now than they were a year ago.

A “lack of respect” culture was perceived as the biggest contributing factor, followed by a lack of community spirit, and the current economic climate.

The insurer’s research also reveals that only two thirds of businesses claimed on their insurance for crimes, suggesting many minor incidents go unreported.

Of those reporting crimes, 23% said that a weapon was used, while a further 31% reported that other types of physical violence and aggression were used.

Firms in the construction industry are most likely to have been exposed to violent crime, with over half of reported crimes in this sector involving a weapon.

AXA’s research also reveals that pubs and shops are most likely targets for criminals and names Halifax as the country’s business crime hotspot.

One in fifteen of the town’s businesses made an insurance claim for crime last year, against a national average of one in thirty seven.

According to the index, the cost of business crime has risen by 58% over the past ten years (compared with a Consumer Price Index rise of 22%), with the average claim for 2009 standing at £4,081.


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