Copper Theft Insurance Claims in Ohio

Posted by Amy Hite on September 21, 2015

Ohio leads the country in copper theft insurance claims, as well as other metals, according to a report released by the National Insurance Crime Bureau.

Ohio reported over 4400 insurance claims for metal theft from homes and businesses from 2012 through 2014, with most of the insurance claims for copper theft.

A spokesman for the Ohio Department of Homeland Security said metal and copper wiring thefts could lead to high costs for consumers and the potential risk of terrorism from thieves who could ship proceeds from stolen items overseas.

Property theft hits businesses across the country. It costs them millions of dollars every year on copper theft insurance claims. Copper is a popular target. Copper thieves can rip out and destroy HVAC units in minutes, resulting in property damage and significant financial loss. It is such a common problem that insurance companies are beginning to exclude metals from their policies due to the risk.

The negative impact extends beyond copper theft insurance claims. Copper thieves also threaten US critical infrastructure by targeting electrical sub-stations, cellular towers, telephone land lines, railroads, water wells, construction sites, and vacant homes for lucrative profits. The theft of copper from these targets disrupts the flow of electricity, telecommunications, transportation, water supply, heating, and security and emergency services and presents a risk to both public safety and national security.

◾Copper thieves are typically individuals or organized groups who operate independently or in loose association with each other and commit thefts in conjunction with fencing activities and the sale of contraband. Organized groups of drug addicts, gang members, and metal thieves are conducting large scale thefts from electric utilities, warehouses, foreclosed or vacant properties, and oil well sites for tens of thousands of dollars in illicit proceeds per month.

◾The demand for copper from developing nations such as China and India is creating a robust international copper trade. Copper thieves are exploiting this demand and the resulting price surge by stealing and selling the metal for high profits to recyclers across the United States. As the global supply of copper continues to tighten, the market for illicit copper will likely increase.

Stealth Monitoring can help you and your business deter and reduce copper theft insurance claims in Ohio or any other location in the U.S. Contact us now to learn how proactive live video surveillance provides greater security while reducing security guard and other expenses. A Stealth operator can see unusual activity like individuals on roof tops, alleys, back of buildings, etc., activate an audible warning to deter copper thieves, and call the local police. Visit our web site and see actual videos of criminals being apprehended.

Posted in: Crime Prevention