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Written question asked by Lord Dholakia (Liberal Democrat) on Tuesday, 4 February 2025, in the House of Lords. It was due for an answer on Tuesday, 18 February 2025. It was answered by Lord Livermore (Labour) on Tuesday, 11 February 2025 on behalf of the Treasury.

Retail Trade: Insurance

Question

To ask His Majesty's Government what assessment they have made of the number of businesses that have been refused insurance because of incidents of retail crime.

Answer

The Government has not made an assessment. Insurers make decisions about the terms on which they will offer cover following an assessment of the relevant risks. This is usually informed by the insurer’s claims experience and other industry-wide statistics. Individual insurers may take a different view of the relevant factors in determining whether to offer insurance and at what price.

However, the Government recognises that shop theft continues to increase at an unacceptable level, with more and more offenders using violence and abuse against shopworkers to do this.

The Government will introduce a new offence of assaulting a retail worker to protect hardworking and dedicated staff, and end the effective immunity that has been granted to shop theft of goods under £200. As set out in the Autumn Budget 2024, the Government also will provide over £7 million over the next three financial years to help police tackle retail crime and support local businesses.

Secondary information

Type
Written question
Reference
HL4688
Session
2024-26
Subjects
Crime Insurance Retail trade
Contains statistics
Yes
Link
View this Written question on www.parliament.uk