Business crime rates have dropped by 14% year on year, according to AXA’s annual Business Crime Index.
The most common types of crime committed against businesses are theft, arson and malicious damage.
The rate of thefts has dropped by 11%, and violent thefts on businesses have reduced by 10%. The average theft claim by businesses is just under £4,000. However, thanks to a 25% reduction in arson and malicious damage, the cost of crime to businesses has dropped by 13%.
The vast majority (85%) of businesses surveyed by AXA said they are either less worried or no more worried about the threat of crime to their business than a year ago.
Douglas Barnett, head of customer risk management at AXA, said “The last few years have been tough for many and we know from our customers that becoming a victim of crime can be very hard to bounce back from, both financially and emotionally. So to see the number and value of crimes decreasing is a real boost to UK business.”