The increase in commercial crimes in South Africa costs the country billions and threatens the country's ability to grow an inclusive economy, Santam's head of auditing and forensics said.
The comments were made following the release of the South African crime stats, which saw commercial crimes increase by 0.6 percent for the period April 2012 to March 2013.
According to Police Minister Nathi Mthethwa, for the same period aggravated robberies increased by 1.2% from 101 203 to 105 888, residential burglaries increased by 3.3%, non-residential burglaries increased by 1.7% while shoplifting decreased by 3.9%.
"Year on year statistics show a continued upward trend in the number of commercial crimes reported," Santam's Helen du Toit was quoted as saying in a Fin24 report.
"This increase costs the South African economy billions of rands and threatens our ability to grow an inclusive economy."
Du Toit urged business to be aware of the risks they faced and put measures in place to avoid becoming victims of commercial crimes.
"Whether the crime is committed by a person who sees an opportunity and exploits it or by a highly organised syndicate using sophisticated methods, commercial crime has a direct impact on the costs of an insurer and policyholders," she said.
"Corruption, fraud and theft will inevitably have an impact on the cost of claims and acquisition fees."