Crime-related incidents, including break-ins, theft, fraud, and cyber-enabled attacks, are increasing in frequency across Australia. Some businesses report repeat offences, particularly in retail, hospitality, and trades sectors, with insurance premiums rising as a result.

Business insurance can provide critical support when crime occurs. Key coverages include:

• Property damage: Reimbursement for damaged premises or stolen equipment.

• Business interruption: Covers ongoing expenses like rent, wages, and utilities if your premises are unusable.

• Money and fraud cover: Protection for losses from theft, forgery, or cyber-enabled fraud, including unauthorised electronic transfers.

• Security upgrades: Some policies assist with covering the cost of enhanced security measures, such as alarms, CCTV, or access control systems.

While insurers assess risk based on location, security, and claims history, installing visible security measures can reduce your exposure and may lead to lower premiums. Insurers also consider crime trends in your area when underwriting, so maintaining strong on-site security is a shared responsibility.

If your business is affected by crime, act promptly—notify your insurer within 24–72 hours, provide evidence such as photos, police reports, and transaction records, and work with your broker to ensure your cover aligns with your current risk profile. Delayed reporting can impact your claim.

Regular policy reviews help identify emerging risks, such as increased cash handling, new equipment, or changes in staffing. Your broker can also advise on crime prevention strategies and ensure your policy reflects your evolving operations.