Insurance News Archive
Businesses warned against arson risk
The number of arson claims made by businesses in the second quarter of 2006 increased by more than 11 per cent, new research has shown.
The latest findings from the Axa business crime index, which may be of interest to businesses possessing commercial premises insurance, show that the average claim for a case of arson was around £40,000 during the second quarter of 2006.
While arson only accounts for a relatively low number of crime-related insurance claims, its impact on business could still be quite significant.
The survey also showed that Scottish businesses were most likely to be the victim of an arson attack between the fourth quarter of 2004 and the third quarter in 2005, with Welsh businesses being the least likely.
Douglas Barnett, risk control strategy manager at Axa Insurance, said: "Businesses really do have to take the threat of fires seriously and they should protect against all types of arson."
He also advised that businesses should be particularly vigilant as darker nights drew in as well as to be careful during the month of November, when fireworks proliferated.
12 Oct 2006