NEWSLETTER – December 2008
Is the Economy to Blame for the RISE in Theft & Burglaries?

CYNDY HELMEY, ARM, CIC
843-815-9658 chelmey@bbandt.com

KEEP CROOKS AT BAY
With break-ins and thefts on the rise, police say people can take a few basic steps to thwart the criminals.
• Lock your car doors. Simple advice, but hugely important because a crook is less likely to smash through a window than rifle through an open car.
• Do not keep valuables in plain view. That goes for the GPS system on the dashboard or the iPod in the center console.
• Shut the garage door. Bicycles, tools, even lawn mowers all fetch a good price at the local pawnshop.
• Make sure the yard lamps work. A thief is less likely to prowl near a well-lit home.
• Document the serial numbers on electronics. When they do turn up in a pawnshop, you can claim them as yours.

Property crimes like burglary and theft are on the rise, a trend that could reverse a decade of declining figures. Neighborhoods that once seemed immune to crime are now among the hardest hit. Cars left unlocked overnight in suburban neighborhoods are easy targets. Rising prices for scrap copper and gold are another lure.
There are many other threads linking the economy to rising crime: the hundreds of foreclosed, vacant homes that are ripe for plundering; more chances for an easy score in sparsely populated new developments; and thousands of unskilled laborers who struggle to find jobs as unemployment hits 7 percent.
Police detectives say many of the crimes are run of the mill, foiled by locking your car door at night and taking other basic precautions.
But they also know that a bad economy puts more pressure on the people who make the least.
Small businesses targeted
Businesses have been hit especially hard. Although crime statistics are not broken down between commercial and residential local detectives and administrators say that businesses have been badly taxed by burglars.
Also boosting the numbers are strings of car burglaries.
"Car hoppers," those who commit a slew of car break-ins during a single night, seem more prevalent than ever.
While no one tracks how many thefts are tied to the economy, there is anecdotal evidence that shows people who are on the edge of financial ruin do things they normally would not.

NEWSLETTER – January, 2009
Are you prepared for Litigation?

While it is relatively easy to quantify the value of the physical property of a business and businesses are generally pretty good about purchasing property insurance coverage, they may overlook buying adequate coverage for negligence. As your agent, I am in the position to remind you that an entire business, way beyond the property, is at risk if the business is sued.

We know that you have spent countless hours making sacrifices to build a successful business. Yet, in an instant, it can all vanish, due to something totally outside of your control. While it is relatively easy to quantify the value of the physical property of your business – furniture, fixtures, machinery, and the like – your exposures to the risk of negligence may need to be reviewed. Over the last generation, our society has become increasingly litigious, and the awards to plaintiffs ever more generous. We have gone from a society that seeks to make those who experience misfortune “whole” again, to one where someone must “pay” and not necessarily in proportion to the damage done.

The court solution, it seems, is to right these perceived wrongs through monetary awards. These awards routinely exceed the seven-figure threshold. In this climate, the court system has become less favorable toward business. Today, even the best-run business could be wiped out, without adequate liability protection. The costs of mounting an adequate defense alone can run into the hundreds of thousands of dollars, before the judgment is even rendered.

By adding an Excess Liability or Umbrella policy to your insurance portfolio, you have an extra layer of protection. This protection is affordable. A limit of $1,000,000 can cost as little as $500 depending on your type of business.

Competition between the carriers is fierce and being in the midst of a soft market, it may be the perfect time to consider adding this priceless protection.

Another form of negligence can be protected by the addition of Directors and Officers Liability Coverage, which insures corporate directors and officers against claims, usually brought by stockholders, alleging loss due to mismanagement. More individuals owning stock and more stringent standards imposed by the courts indicate this as another growing risk.


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