Protecting your assets against an alarming surge in theft across the UK
31 October 2023
The UK is experiencing a worrying upswing in theft. The impact of this surge is particularly evident in smaller commercial thefts, such as shoplifting, break-ins and thefts in businesses located within industrial estates – Simeon Chapman, Director.
To the team at Hazelton Mountford, the upswing emphasises the urgency of safeguarding your assets in the face of this growing threat.
Simeon explains: “Theft has been on the rise, reaching levels reminiscent of the period just before the onset of the COVID-19 pandemic. Thefts have become more frequent, burdening local businesses and retailers. In Worcestershire, for instance, theft claims have surged, putting a significant strain on the local companies affected.”
In addition, break-ins to houses and commercial properties have become a widespread concern. Businesses, particularly those located in industrial estates, are falling victim to theft at a growing rate. These incidents not only result in significant financial losses but also disrupt the normal course of operations, leading to a loss of productivity and customer trust.
Simeon Chapman, who specialises in risk management and mitigation via insurance, advises that vigilance is needed. He confirms:
“Business owners and individuals alike should take immediate steps to review the security of their premises and possessions. It’s important to check the integrity of lock, that they meet the insurance minimum security conditions and ensure that alarm systems are functional and maintained. Properly set alarms can deter potential thieves and, in case of an incident, alert the authorities promptly and reduce the time thieves have in your premises.”
Simeon also warns about the consequences of inadequate security measures: “Neglecting to set alarms or failing to update contact information can lead to false alarms and delayed responses. In some cases, repeated false alarms can result in the withdrawal of police response and negatively impact insurance policies.”
In light of the increasing theft incidents, it is crucial to review your security measures, alarm systems and insurance policies.
Simeon concludes: “Protecting your assets and livelihood is important. The surge in theft is a stark reminder that complacency can lead to financial losses and disruption. By taking proactive steps to secure your property and possessions, you can help mitigate the risk and minimise potential damage. Don’t leave your things unsafe; take action now to protect what matters most.”
Contact the team at Hazelton Mountford if you’d like to chat about your insurance.