Canada’s jewellery sector is facing a crime crisis. In June 2025, Canadian Jeweller Magazine reported jewellery store robberies surged 250% year-over-year, with smash-and-grab raids hitting malls from Richmond Hill to Ottawa. Peel Region saw 37 robberies in 2024, triple the previous year, and Toronto police reported a 105% spike in smash-and-grabs compared to 2023. These aren’t isolated events; they’re part of a nationwide trend that demands urgent action.
Smash-and-grab incidents have emerged as the most common scenario. Organized groups often strike during opening hours, causing significant property damage, traumatizing staff and escaping with large volumes of stock. These events frequently force temporary closures, disrupting revenue during critical periods.
How Underwriting Expectations Are Tightening
These smash-and-grabs have had a huge impact on the jewellers’ block insurance industry, which is designed to address the unique risks faced by jewellery retailers, wholesalers and manufacturers. Recent claims experience shows a clear shift toward higher-severity losses, particularly since 2023. Losses accelerated sharply in 2024, driven by organized retail crime and the emergence of smash-and-grab incidents that were previously uncommon. In several cases, individual events have resulted in losses approaching $2 million.
In this environment, coverage isn’t just about transferring risk; it’s about reducing it. In response to the trend in robberies, insurers are actively driving safer practices by requiring robust security measures as a condition of coverage. This heightened risk has led to stricter underwriting conditions, closer scrutiny of security measures and a stronger emphasis on proactive risk management.
While these changes may feel demanding, they reflect the realities of today’s loss landscape. Underwriters are demanding a greater focus on the physical security of jewellery stores, e.g., reinforced doors, locks and safe specifications.
Insurers are also requesting store owners install electronic protection through monitored alarms, panic buttons and CCTV systems, as well as requiring reduced limits on after-hours exposure, i.e., how much stock is secured in safes overnight. There’s more emphasis on the operational controls of the stores too, such as opening and closing procedures.
The Shift Away from Open-Door Retail
One of the most impactful of these changes is the adoption of locked door policies. As losses mount, open-door retail models are increasingly untenable. Controlled entry systems, such as buzzer access or mantrap-style doors, allow staff to manage who enters and have proven effective deterrents. While initially uncomfortable, these measures dramatically reduce exposure to violent incidents. In today’s environment, prevention is far less costly than responding after a loss.
Risk Surveys Become the New Standard
Professional risk surveys are no longer optional; they’re becoming standard practice. These assessments identify vulnerabilities and clarify exposure, enabling corrective action before a loss occurs. Prevention is not only safer but far less disruptive and expensive than recovery.
The Role of Specialist Coverage and Why It’s Driving Safer Stores
This collaboration between business owners, brokers, underwriters and security professionals is reshaping the industry, and these requirements will make stores harder targets and help curb the rise in robberies. The goal is to ensure that stores can operate confidently in an increasingly challenging environment.
The jewellery sector remains resilient, but the risk landscape has evolved, and expectations have evolved with it. Strong security, transparent communication and proactive risk management are now fundamental to long-term stability. Retailers that adapt will not only protect their assets and staff but also safeguard their future.
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