As smash and grab raids rise, are agents ready?

first_imgPicture: Evening StandardEstate agents should check their insurance policies following a wave of smash and grab raids recently by scooter gangs targeting branches, says a leading insurance broker.The problem was highlighted last week when a scooter gang duo broke into an estate agent branch in North London by attempting to smash the front window, only for the entire piece of glass to fall on one of their heads as it came off its moorings (pictured, right).The CCTV footage obtained by the Evening Standard shows one of the thieves being knocked to the ground before regaining his composure and stealing a large Apple iMac from the branch of Flats & Houses in Stamford Hill (pictured, below).The two were later arrested and are due to appear before magistrates in Haringey charged with burglary and aggravated vehicle taking.“I have lost track of how many examples I have seen on scooter gangs over the last few months,” says Oliver Wharmby of specialist property industry insurance broker Lonsdale (pictured, below).“We have seen three cases of “smash and grab” and one of vandalism in the last week alone.“Typically, agents who lease their branch are responsible for the shop-front window which is not always covered as standard under a commercial combined insurance policy.“The average cost to replace a plate window following a smash and grab raid is approximately £1,500.“This is before you factor in whether any items such as signage, display units or lighting have been damaged or stolen.“The business interruption usually lasts a day or so, however it never looks great having a boarded-up window.”Oliver also says agents should ensure they have a good cyber insurance policy because, as the Stamford Hill burglary showed, thieves usually concentrate on stealing high-value computer equipment when they break in.“The risk of data loss poses a completely separate threat which, depending on the terms and conditions of the policy, would fall under a cyber or professional indemnity policy,” says Oliver.“The consequential loss attached to data getting in to the wrong hands can be potentially devastating to any business and especially through brand reputational damage.”Oliver Wharmby Lonsdale insurance scooter gangs estate agent burglary October 30, 2017Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » As smash and grab raids rise, are agents ready? previous nextAs smash and grab raids rise, are agents ready?Insurance broker Lonsdale says it has seen claims for three smash and grabs and vandalism in just one week, and cautions agents to check their policies as gangs target computer equipment.Nigel Lewis30th October 201701,138 Viewslast_img

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