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Feedback from Newspack Insurance shows burglaries, break-ins, robberies and theft are on the increase in Newsagencies across the ACT and NSW. The rise has been seen in shops located in stand-alone locations on shopping strips and in shopping centres and has coincided with increased trade due to the Christmas season and due to large lotteries jackpots.
Insurance certainly helps to recover any loss but Newsagents can help to protect themselves and reduce their risks.
Whilst improved trading conditions are welcome, it is important that Newsagencies review their security now to minimise their risks and to reduce the impact on their business should they suffer a loss. Newspack Insurance recommends Newsagencies continually monitor their security and follow some basic advice to minimise what could otherwise be a substantial loss:
– Do not leave any money in registers overnight
– Place all cash in a safe which is bolted to the floor and/or wall
– If there is an office area attached to your shop keep the door locked at all times
– Reduce the amount of cash held on the premises
– Deposit cash into your bank to reduce the amount of cash on hand and at different times for each days’ banking.
– Make certain the safe is locked and any keys and codes are removed from the shop.
– Lock all instant scratch it tickets away overnight
– Lock all tobacco products away overnight
– If you stock Australia Post/Perth Mint coins – lock them away overnight
– Review your security – locks, CCTV system, security codes and alarm systems
– Develop a check list of daily security actions and follow it rigorously
Over the past 18 months several Newsagencies have reduced their sums insured to reflect subdued trading conditions arising from the COVID-19 pandemic. As a result, many are now under-insured. If you need to review your insurance to meet the current needs of your business, especially since most Newsagencies have returned to close to normal trading conditions, contact Newspack Insurance on 1300 907 583.
Newspack Insurance has been helping Newsagents with their insurance needs and risk management strategies for more than 25 years and is Australia’s longest running specialist Newsagency insurance program.