2007
(12/06/2007) Business crime increases by a tenth in the last 12 months
- 10% increase in the number of crime related claims in Q1 2007 compared to the same period in 2006
- Claims resulting from arson attacks increased by 28% in the first quarter of 2007 compared to the first quarter of 2006
- Nottingham tops business crime league table
The latest findings from the AXA Business Crime Index1 reveal the number of business crime claims settled in the first three months of 2007 is 10 per cent higher than the same period in 2006. Arson claims have risen dramatically, increasing by 28 per cent between the two periods, compared to theft which has increased by just five per cent.
Commenting on the findings of the AXA Business Crime Index, Neil Mercier, property insurance manager at AXA said: "These results make for worrying reading for UK companies. Last year, the number of crime related claims made by businesses increased in each consecutive quarter; if the same thing happens again this year, it could spell disaster for thousands of businesses across the UK. We are urging all business owners and managers to review their security measures and procedures."
Quarter one 2007 findings from the AXA Business Crime Index
Theft remains the most common cause of a crime related insurance claims accounting for one in six (59.5%) of the total. Malicious damage which includes graffiti and smashed windows accounts for a further 35 per cent of claims. Arson accounts for just 4.4% of crime related claims handled but these accounted for 28 per cent of the total amount paid out in by the insurer, which highlights the devastation such attacks cause.
| Type of claim | % of all Crime Related Claims Settled Q1 2007 (cost) | % of all Crime Related Claims Settled Q1 2007 (numbers) |
|---|---|---|
| Arson | 27.95% | 4.40% |
| Forcible/Violent Entry/Exit | 1.07% | 0.94% |
| Malicious Damage | 17.16% | 35.12% |
| Theft | 53.82% | 59.54% |
Source: AXA Business Crime Index
UK business crime by city
Seven of the sixteen cities measured in the crime by city table reported a proportional increase in crime related claims between quarter one 2006 and 2007. Nottingham returns to the top of the city business crime table this quarter, with more than one in four claims resulting from criminal activity in the first three months of the year. At the other end of the table is Norwich where just one in eight claims were crime related.
| Rank | City | % Claims resulting from crime Q1 2007 | % Point increase in claims resulting from crime Q1 2006 & Q1 2007 |
|---|---|---|---|
| 1 | Nottingham | 27.51% | 8.81% |
| 2 | Cardiff | 25.00% | -1.82% |
| 3 | Bradford | 22.64% | -1.54% |
| 4 | Leicester | 21.43% | -2.10% |
| 5 | Glasgow | 20.77% | 6.65% |
| 6 | Manchester | 20.39% | 2.25% |
| 7 | Derby | 20.00% | -3.46% |
| 8 | Birmingham | 19.84% | -8.03% |
| 9 | Bristol | 19.75% | 1.62% |
| 10 | Liverpool | 19.07% | 6.23% |
| 11 | Leeds | 18.99% | -4.08% |
| 12 | Edinburgh | 17.83% | 2.11% |
| 13 | Ipswich | 16.40% | -3.71% |
| 14 | Newcastle | 15.50% | -3.68% |
| 15 | London | 14.74% | -1.14% |
| 16 | Norwich | 12.66% | -5.83% |
Source: AXA Business Insurance
AXA offers a free crime prevention toolkit designed to help businesses protect themselves against criminal activity. The AXA Business Security Blueprint provides best practice advice on everything from securing windows and doors to CCTV and fire suppression systems. It can be downloaded free of charge from www.axa4business.co.uk.
- Ends -
About AXA's Business Crime Index
- The index is based on figures from AXA's own claims database. This release covers findings from January, February, and March 2007.
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