Relief as crime against business falls

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A recent survey says that the "recent dramatic increase" in crime against businesses may have hit a plateau.

The AXA Business Crime Index findings suggest that the frequency of crimes against businesses in the third quarter of this year fell by 15.8% compared to the second quarter of 2004 resulting in a 7.4% fall in insurance claims settlements.

But, says AXA, the news is not all good, as the average crime related business claim settlement increased by 10%, from £3,384 to £3,722.

The most expensive business insurance claim is arson, which, though accounting for only 3% of crime-related claims, also account for one-third of insurance settlements. Theft, by contrast, "remains the most prevalent crime against business" and accounts for over two-thirds of business related claims.

The survey finds that businesses in Nottingham face the greatest threat from criminal activity with over a quarter of all claims settled in Q3 resulting from criminal activity. Nottingham is followed by Leeds (22.9%), Birmingham (22.0%) and Derby (21.5%).

At only 12.9%, Middlesbrough had the lowest percentage of crime related business insurance claims settled over this period.

The full report can be found at: www.axa4business.co.uk

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