Wednesday, 8 May 2013

Shocking Jewellery Crime Statistics

As a broker who specializes in insuring the jewellery industry, it is clear that property crime in Canada is on the rise, and specifically within the Canadian jewellery industry.  The high prices of gold and other jewellery; as well as the recovering economy are two of the main reasons we are seeing an increase of crime against the jewellery industry.

The biggest growing trend and concern to jewellers today is that of the day-time armed robbery.  In the last three years armed robberies have accounted for 50% of the value of reported crime in Canada.  The number one type of loss in the industry is the 3-minute robbery or burglary.  The criminals try to get as much as they can in a time frame they know police cannot respond.

There are two organizations within North America seeking to inform and educate jewellers on the current losses and trends related to jewellery crime.  In the US it is Jewellers Security Alliance (; in Canada it is Jewellers Vigilance Canada (

Both of these organizations recently published their 2012 crime report.  The most concerning statistic is the fact that values in reported crimes in Canada have increased almost 45%.  Losses were $8.1M in 2010 compared to $14.5M in 2012.  However the value of losses in the U.S. declined approximately 30% in 2012.

Canada's population is approximately 1/10th smaller than that of the U.S.; However statistics show that we are dealing with jewellery crime at more than twice the rate of the U.S. 

A concern with these statistics is that it only shows reported crimes in the industry.  I know that there are many losses which do not get reported to JVC or even to the police.  These statistics also do not reflect internal crime.  According to a report from the JVC “Criminologists and other learned individuals in Canada suggest that internal crime contributes an additional 30 % to losses suffered by jewellers.”

With the recent trends and statistics proving that we have a serious matter on our hands, I encourage jewellers to practice better awareness by educating yourself and your staff. Share information with other jewellers and set-up or participate in local crime networks.  It might not be a bad idea to start lobbying to your MP or MPP about the epidemic we are dealing with in the jewellery industry.

Jewellers Vigilance Canada (JVC) works very hard in communicating this information to the jewellery industry in Canada as well as to the police services.  JVC provides the industry with an invaluable service.  I encourage all jewellers to become members and report all crime situations to JVC.

If you would like to explore your jewellers block options or want to re-visit your policy to make sure you are properly covered I would be happy to assist you.

For statistics from JVC or JSA please visit their website or click on the following links:
JVC - (click on crime data)

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