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[Bigron]

That makes sense, Lizzie. The college I worked at did not carry any insurance because of the transient population and criminal intent of the students!
They said the cost of insurance would be prohibitive and would replace any equipment "lost" out of budget. Guess what didn't happen? 

Ron

[Lizzie Zoom]

That makes sense, Lizzie. The college I worked at did not carry any insurance because of the transient population and criminal intent of the students!
They said the cost of insurance would be prohibitive and would replace any equipment "lost" out of budget. Guess what didn't happen? 

Ron

That is what would be different in the academic world compared to retail.  When we lost say £10,000 due to robbery/burglary we HAD to replace the stock to remain in business. A college can make do without a printer or laptop, at least for a few months!!

[Bigron]

No, not really. I am talking about essential test equipment needed for class practicals: even oscilloscopes, big and heavy, went walkabout!
At an earlier college, a senior lecturer thought it would be nice to have some small test meters rather than large Avometers. After I had a gentle word with him, he got them mounted securely on large wooden boards! 

Ron.

[Lizzie Zoom]

No, not really. I am talking about essential test equipment needed for class practicals: even oscilloscopes, big and heavy, went walkabout!
At an earlier college, a senior lecturer thought it would be nice to have some small test meters rather than large Avometers. After I had a gentle word with him, he got them mounted securely on large wooden boards! 

Ron.

Right!

Sounds like your college had "removal men" visiting, no doubt dressed in brown coats and acting the part. You know Ron I partially joke, but it is amazing how your staff, customers, and even 'security' can be fooled by thieves looking the part, and having the bottle, can just walk in unchallenged and pick even very large bits of property up and walk off with it.

My experience included delivery men depositing their delivery goods in a store and picking up parts of a previous delivery due to bad staff training (or stupidity)

[Doctor Gollum]

I know of one retail group with an effective wastage of 50% of the group profit

[Migv6 le Frog Fan]

They can't leave money on the premises overnight......end of. I regularly have a flutter, but I haven't been near a bookies for years. Moving into the 21st century might help your cause.

I haven't been in a bookies since I was 14 ! 

[ronnyd]

They can't leave money on the premises overnight......end of. I regularly have a flutter, but I haven't been near a bookies for years. Moving into the 21st century might help your cause.

I haven't been in a bookies since I was 14 ! 

Never been in one in my entire life, all 73yrs of it.

[tigers_gonads]

Bookies leave no cash on the premises over night and the backs are shut on a Sunday 

[TheBoy]

I doubt the business involved would be able to get insurance cover for significant amounts of cash held on premises over the weekend.

Main line businesses in retail are not insured for stock or cash losses and instead cover themselves as the premiums would be astromical to do so.  No, a hit is taken in the P&L accounts, usually within the gross profit line and is classed as "wastage".

I know exactly what bro is insured for in his shops, including cash in the tills/safes, and stock in the window at different times, and general stock in the premises.  Which is why I posted what I did

[Lizzie Zoom]

I doubt the business involved would be able to get insurance cover for significant amounts of cash held on premises over the weekend.

Main line businesses in retail are not insured for stock or cash losses and instead cover themselves as the premiums would be astromical to do so.  No, a hit is taken in the P&L accounts, usually within the gross profit line and is classed as "wastage".

I know exactly what bro is insured for in his shops, including cash in the tills/safes, and stock in the window at different times, and general stock in the premises.  Which is why I posted what I did

Small businesses may insure for some stock and cash, but the big boys certainly do not due, as I stated before, the premiums if they did for millions of pounds worth of stock and cash is just not viable.  Taking the risk of losing a percentage of profit and spending money on good security is a far better financial solution;)

[TheBoy]

We don't know how big this bookie is. Either way, though, it clearly makes sense that then don't have huge amounts of cash overnight...

[Lizzie Zoom]

We don't know how big this bookie is. Either way, though, it clearly makes sense that then don't have huge amounts of cash overnight...

And that is why Securicor or similar cash collection services are contracted. 

[TheBoy]

We don't know how big this bookie is. Either way, though, it clearly makes sense that then don't have huge amounts of cash overnight...

And that is why Securicor or similar cash collection services are contracted. 

I think you'll find smaller businesses more often DIY on costs grounds...

[Lizzie Zoom]

We don't know how big this bookie is. Either way, though, it clearly makes sense that then don't have huge amounts of cash overnight...

And that is why Securicor or similar cash collection services are contracted. 

I think you'll find smaller businesses more often DIY on costs grounds...

No doubt TB they do.  But then those businesses not only risk losing the money when the staff member is attacked going to the bank's night safe, but being sued for not exercising a duty of care to their staff and putting them at risk. That really is a strategy that was preveliant in the past, but in 2018 is not a good idea.

[TheBoy]

We don't know how big this bookie is. Either way, though, it clearly makes sense that then don't have huge amounts of cash overnight...

And that is why Securicor or similar cash collection services are contracted. 

I think you'll find smaller businesses more often DIY on costs grounds...

No doubt TB they do.  But then those businesses not only risk losing the money when the staff member is attacked going to the bank's night safe, but being sued for not exercising a duty of care to their staff and putting them at risk. That really is a strategy that was preveliant in the past, but in 2018 is not a good idea.

There are certain rules in place, to comply with the insurance companies' requirements, as they don't want to their customer's staff sprung either. It remains the only viable idea in 2018 for small and medium retail businesses.