Businesses to protect against commercial crimes

The recently released 2013-14 crime statistics revealed that business robberies are steadily on the rise with a reported 13.7% increase – 461% higher now than it was in 2004/05. The report also revealed that an additional 2 238 armed attacks on businesses in had taken place in 2013/14 compared to the previous year.

According to Annelie Smith, Corporate Executive at Risk Benefit Solutions (RBS), an independent insurance and risk specialist, the company has specifically witnessed an increase in claims from retailers, particularly as a result of armed robberies. “Criminals are increasingly targeting retail stores, especially for white goods such as televisions, cameras, jewelry, upmarket clothing items etc, and they don’t seem to care how they obtain the products. This has resulted in a rising trend of armed robberies, as opposed to overnight break-ins. We are also noticing a rise in claims from smaller pilferage type claims which end up in stock losses over a longer period of time. These losses normally occur as a result of individuals stealing directly off the shelves in the shop.”

Smith says that unfortunately no matter the measures businesses put in place, these occurrences will continue to occur until there is a change of mind-set in the country. “With the country’s current poverty levels, there are many poor individuals and syndicates that make profits out of stolen goods, and this is sadly unlikely to improve in the foreseeable future.”

She stresses that for this reason businesses need to ensure they have the correct insurance policies in place to provide cover for all possible risk scenarios their business may face. “It is advisable for business owners to seek guidance from a specialist security risk surveyor to ascertain what crime exposures the business may fall prey to. This will enable the business to implement the correct security risk improvements in their business which will have a positive result on their long-term cash-flow.

We propose an interview with Annelie Smith, who is eager to discuss the following:

- How the rise in non-residential (business) robberies calls for business’ to evaluate the risk cover they have in place;
- What business owners need to consider when putting these measures in place;
- The role of a risk surveyor and how this can minimise insurance premiums.