Festive season could have cost businesses more than they bargained for

Auto and General Business Insurance is urging businessowners to step-up their security measures.

According to LeRoy Munetsi, executive head of Auto and General Business Insurance, crime has a debilitating impact on local businesses.

The World Economic Forum’s Global Competitive Report 2013/14 ranks South Africa 141st out of 148 countries in terms of the costs of crime and violence, indicating that crime is costing businesses significantly.

According to Munetsi, Auto and General’s claims data indicates that vehicle theft and hijacking, theft of computing equipment, and portable devices such as laptops are the main crimes impacting local businesses. The theft of office equipment and furniture as well as stock theft are also common.

“When you consider a small business losing all of its computers, resulting in staff not being able to do their work, or a plumbing company losing one of the vehicles used to get to jobs, you can understand why the costs of crime can be significant enough to cripple a business,” says Munetsi.

To protect their businesses and their personnel, companies need to equip themselves to fight crime with an integrated approach.

This requires implementing a combination of security measures such as, good quality perimeter fencing, lighting, external passives, infrareds and beams, CCTV systems, intruder detection systems, solid locks, glass protection (against smash-and-grabs), good building access control and well-trained security guards.

Employees should also be made aware of the risks, and be trained to follow security procedures and take safety precautions.