Dramatic rise in crime claims costs

The cost of crime to businesses increased dramatically over the first quarter of 2005, according to Axa's Business Crime Index.

Latest findings from the index, based on Axa's own claims database, showed the average settlement amount for a crime-related insurance claim rose by 29.2% between the last three months of 2004 and the first three of 2005, from £3,643 to £4,708.

By comparison, the average cost of a non-crime related settlement rose by just 2.3% over the same period.

The vast majority of

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