Fraud 'costs businesses 10 times more than fire'
AIG Europe (UK) has claimed that business losses from fraud and occupational crime cost 10 times mor...
AIG Europe (UK) has claimed that business losses from fraud and occupational crime cost 10 times more than losses arising from property damage through fire. According to its research, fraud is estimated to cost £32bn in the UK and is rising at 8% per annum.
While nearly all companies insure for property damage, the majority are still not insured against fraud, despite the fact that over half of companies with more than 1,000 employees report losses - the average being in the region of £1.2m.
Sarah
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Most read
- Zurich strikes five-year capacity deal with MGA Freedom Services
- Aviva to open branches in Chelmsford and Southampton
- Dual to open two UK offices as McGinn’s regional push gathers pace