Crime against UK Businesses Down, Cost of Crime UpA recent report by AXA Business Insurance shows that the volume of claims for crime against UK businesses has fallen sharply, down by 31% in 2014 alone. However, the report highlights that the cost of crime to UK businesses is on the increase – up 33%.
A reduction in the most common crime against business – theft – contributed significantly to the drop in the number of claims, while the less common crimes of arson and vandalism are becoming increasingly expensive, resulting in the increase in costs to businesses.
AXA warn that unless businesses take adequate steps to protect their premises (and insure accordingly, of course), they could face hefty costs that would undermine their success.
With the trend towards high damage and high cost crimes, we at Cardea recommend a number of security measures that business owners can take to not only protect their premises but reduce their insurance premiums too.
Window Security Solutions
The most common form of vandalism against businesses are windows being broken, either to allow for entry or just from malicious intent. Windows provide the easiest access to business premises and should be considered a weak spot.
Window security measures not only help to protect premises but also act as a deterrent, stopping a crime happening in the first place.
Doors meanwhile, if left unprotected, are an invitation to would-be thieves and robbers. Installing roller shutters on entrances and exits, warehouse doors and similar, will provide a deterrent and protect from any attempted break-ins.
Protecting your doors and windows will not only reduce the risk of theft and vandalism but arson too. The cost of the average claim for arson, according to AXA, rose from £40,560 in 2012/13 to just over £80,000 in 2013/14. It makes economic sense to invest in strong security.
So, putting in measures to prevent crime, rather than reacting after the fact, will reduce your business costs in the long run, something AXA point out:
“It’s clear that the crime rates for business are falling faster than for the general population. The Office of National Statistic reports a 14 per cent drop in crime overall in roughly the same time period as we’ve seen a 31 per cent drop for businesses.”
In our experience, this is partly explained by businesses improving on their crime prevention measures.”
While the number of crimes may continue to fall, the cost of crime to businesses in the UK is only likely to rise. Protect your business – before it’s too late.
Investing in these kinds of security measures will protect a business from damage, insurance claims and increasing insurance premiums, thus reducing the cost of crime.
In fact, many of our window security solutions are proven to reduce insurance premiums and some are police and insurance approved.