Skip to content

PublicNews

Text Size: - +
Go Back to Most Recent FYI Articles

Go Back to Insurance for Mid to Large-Sized Businesses Articles

11/7/2011 - Retail crimes on the increase


Retail crimes are increasing.

A new study regarding crimes against businesses indicates that shoplifting is on the rise.

According to the Retail Industry Leaders Association and its Crime Trends and Leading Practices Survey, more than half of respondents participating said they saw an increase in the number of shoplifting incidents at their stores in the past year involving organized crime rings. Forty-one percent have seen more thefts involving individuals acting alone.

In addition to more in-store robberies, 61% of respondents saw a rise in their merchandise sold online. Other places items were often resold included flea markets and store front bodegas.

Lisa LaBruno, vice president of loss prevention and legal affairs said the theft statistics from the country's largest retailers may reflect the retail industry overall.

"Data detailing how crime is trending and what deterrent strategies have worked for retailers will help retailers focus their resources and develop effective strategies for mitigating risk," said LaBruno.

Most businessowners' insurance policies provide coverage for theft and incidents should be reported to insurance agents as soon as they are recognized, according to the Insurance Information Institute. 

Go Back to Most Recent FYI Articles

Go Back to Insurance for Mid to Large-Sized Businesses Articles