Employee theft continues to generate high-value insurance claims from UK businesses, according to new data from Zurich. While the number of reported incidents has fallen, claims remain costly, and highlight persistent vulnerabilities cross-sector.

Zurich’s analysis, based on Freedom of Information data from 39 police forces, recorded 4,562 employee theft cases over the past year. Although this marks a 15% drop over three years, individual claims still reached significant levels – including a £249,000 fraud at a jeweller, a £63,000 embezzlement at a furniture company, and a £50,000 case at a medical centre. On average, incidents cost businesses up to £35,728.

The Metropolitan Police reported the highest number of cases, while Gloucestershire saw the biggest annual decline, down 46%.

Zurich's specialty lines claims head, Will Anderson, said while decline in the number of reported thefts in the workplace was good news, theft remains an issue for businesses.

“Despite this decline in volume and enhancement in technology, no business is immune from this type of theft which can occur at all levels of an organisation,” he added. “Crime Insurance provides vital protection that can help mitigate the impact of these financial losses and help businesses resume normal operations in a swift fashion.”

Zurich points to improvements in fraud detection, tighter security and more cashless operations as possible reasons for the decline. But the insurer also emphasised the need for preventive action – including background checks, whistleblowing channels, audit controls and strong cyber security – to reduce exposure and limit future claims.

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