Things will get worse say insurer as economic downturn continues
Research by AXA Insurance showed a 10% increase in the number of crimes committed against British businesses in the first half of this year, and an 18% increase in the cost of business crimes in the same period.
These increases run counter to the 9% reduction in high street and general crime announced by the Home Office earlier this year.
AXA believes this 18% increase is a robust indication of the rapidly rising cost of business crime across the country.
The average crime claim settlement amount for January to June 2008 is £4,575, an increase of 7.5% over the average cost for the same period last year.
Doug Barnett, head of customer risk management at AXA, said: “The increase in business crime is likely to get worse as the economic downturn continues, particularly where prices for certain goods are increasing. This is especially true of some building materials.”
He added: "If high street crime is falling, as recent government statistics suggest, we believe the police should now increase the emphasis on tackling crimes against UK businesses."
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