Insurance group AXA has reported that arson is the fastest growing reason for claims on business insurance policies in the UK.
The second quarter of 2006 saw claims against cases of arson attacks on businesses rise by 12 per cent, a worrying figure with bonfire night just around the corner, when firework sales traditionally skyrocket and therefore present more fire hazards.
Overall, the number of business cover claims has risen by three per cent in the second quarter of 2006 compared with the first three-month period.
"Businesses really do have to take the threat of fires seriously and they should protect against all types of arson," said Douglas Barnett, a risk control strategy manager for AXA Insurance.
"For example, they should be aware that arson can be as simple as a lit cigarette being deliberately disposed of in rubbish holding facilities or outside storage where they can smoulder and set light to the business and attached dwellings."
Despite this less than positive news, instances of theft fell by one per cent during the same period.To read more about investment property, click here.
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