Make security part of everyday store procedures
Security equipment can only do part of the job. Staff should also know what is expected of them before, during and after an incident.
Keep staff safety at the centre of robbery procedures
Personal safety comes first during a robbery.
For alarm use during an armed robbery, NSW Police advises: “Activate alarm devices as soon as possible, but only if it is safe to do so.”
NSW Police also advises staff not to chase an offender and says the safety of employees and customers is the number one priority during an armed robbery.
Staff should understand your store’s robbery procedures before an incident occurs.
Keep stock records up to date
Good stock records can become particularly important after a theft.
Keeping clear records of purchases, sales and stock movements can help support the assessment of a claimed stock loss. Your insurer may request supporting information and documents as part of a claim.
It is generally easier to keep those records current than to rebuild them after an incident.
Insurance checks worth making before an incident
Your store security and insurance arrangements can be closely connected.
Reviewing your policy before an incident can help you understand what limits and conditions may apply.
Understand your out-of-safe limit
An out-of-safe limit may apply to certain valuable stock that remains outside a locked safe or strongroom when your premises are closed.
Where one applies, the amount should be shown in your policy schedule.
If your stock levels or storage arrangements change, consider checking whether your insurance still reflects how the business operates.
Check your window smash limit
Some jewellers insurance arrangements may include a window smash limit for theft or attempted theft involving display windows.
Limits may vary according to the policy and schedule. Different amounts may also apply during and outside business hours.
This is worth checking if valuable stock is displayed close to your shopfront.
What to do after a ram-raid or smash-and-grab
Once an incident happens, staff and customer safety should come first.
- Put staff and customer safety first.
- Call Triple Zero (000) if there is immediate danger, an offender is still present, or someone is injured.
- Avoid confronting offenders or unnecessarily disturbing the scene.
- Contact your insurer or broker once it is safe.
Victoria Police advises businesses not to confront a thief and not to touch anything following a break-in.
Once it is safe, details about offenders, vehicles or their direction of travel may help police if they can be observed safely. Supporting stock records and details of damage may also be requested as part of an insurance claim.
How Jewellers Block insurance may fit into your risk planning
Security measures may help reduce exposure, but they cannot remove every risk.
Depending on your insurance arrangements, Jewellers Block insurance may address risks involving jewellery stock and other business property. Marsh product information describes one feature as: “Covers physical loss or damage to stock, merchandise, cash, and negotiable documents both on your premises and in transit.”
The cover that applies to your business will depend on the policy wording, schedule, terms, conditions, limits and exclusions.
For more information about insurance arranged by Marsh for jewellery businesses, see jewellers insurance.
