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Theft and vandalism pose significant risks to small and medium-sized enterprises (SMEs) across all industries. These incidents can lead to financial losses, property damage and operational disruptions. Given these potential consequences, business leaders must take steps to safeguard their organisations. This article explores the risks, reviews preventing theft and vandalism strategies, response protocols and essential insurance considerations.
Theft and vandalism manifest in various ways. For example, theft may involve shoplifting or employee dishonesty, while vandalism can include smash-and-grab incidents, graffiti or property damage like broken windows. The frequency of these crimes is increasing; the Office for National Statistics data revealed that police forces logged 469,788 shoplifting offences in the year to June 2024, a 29% increase from the 365,173 cases recorded the year prior. Repairing vandalism can cost thousands of pounds and disrupt business operations, further compounding financial losses and potentially harming an SME’s reputation.
To minimise the likelihood of theft occurring, employers should adopt robust prevention measures, such as the following:
Strategies to prevent vandalism include:
In the immediate aftermath of a theft or vandalism incident, employers should notify the proper authorities, document the damage and file an insurance claim. They should then clean up promptly to resume operations and minimise disruptions, analyse what went wrong and update security measures accordingly.
Having adequate insurance coverage is vital to reducing the financial impact of theft and vandalism. Policies such as commercial property insurance and business interruption insurance can cover clean-up costs, stolen items, property damage and operational downtime. It’s important to work with a licensed professional to assess an SME’s needs and secure appropriate cover.
Information provided by Zywave and contributed by Harrison Law, (Cert CII) Head of Commercial & Private Clients, Cox Mahon Ltd.