Five security related questions

Are thefts generally increasing and will this lead to increased demands from insurance companies for better protection?

– What we can see today is that fuel theft is increasing in Europe. With that exception, theft in general is at an unchanged level. I do however want to underline how the value of different things change due to global events such as the pandemic and the war in Ukraine. The latter has lead to a lack of steel, raising its price and also its attraction to criminals. Therefore it’s wise to keep an eye out for changes in the global economy, in order to take timely and necessary security measures.

Are companies aware of the consequential costs of a break-in?

– That varies a lot. But there are a lot of companies who haven’t taken necessary security measures and as such are vulnerable to theft. Unfortunately the risk of theft is relatively high in for example construction, and I hope more and more companies understand that protective measures are warranted.

But is it such a big deal if they’re insured?

– A break-in where insured equipment is stolen and damage is done rarely leads to an insurance payment high enough to replace what’s been lost. It’s also time consuming to handle the administration as well as there’s costly downtime due to the loss of vital equipment. So it all comes down to deciding whether you want to make it hard for perpetrators our take your chances.

What can a company do to lower the risk of a break-in?

– A combination of several things such as hiding visually what’s inside a building, car or space. Look for a moment at the venue from the perspective of a perpetrator: is it obvious what’s inside? Is the place lit up during the dark hours? Are there deterring cameras or camera signs visible?

On top of this it’s really a question of how much it’s worth to avoid theft. There are strong locks, alarms, other electronics and measures such as our anti-cut panels to make break-ins difficult. What I’d advise companies to do is to try to appreciate the damage a break-in would have on the business and take appropriate measures based on that.

About those damages, what should companies include in their damage assessments?

– On top of downtime and the difference in cost between the insurance payment and replacing what’s lost, there’s delivery delays, sales loss for client’s, insurance liability and goodwill. For big companies it’s important that their suppliers have taken sufficient protective measures as a delay can damage their brands. And for a supplier looking for clients, good protection should offer a competitive edge.