Home News Metal theft claims decline in 2013

Metal theft claims decline in 2013

Metallics

Insurance group says Ohio continues to report the most metal theft claims.

Recycling Today Staff May 13, 2014

The National Insurance Crime Bureau (NICB), headquartered in Des Plaines, Illinois, has released a report noting a decline in metals theft incidents. The report looks at the metal theft insurance claims from Jan. 1, 2011, through Dec. 31, 2013.

The NICB is a nonprofit organization dedicated to preventing, detecting and defeating insurance fraud and vehicle theft.

In 2011, the NICB says a total of 14,676 metal theft claims were processed. The number dropped to 13,603 in 2012 and decreased again in 2013 to 10,807—a decline of more than 26 percent from 2011. During the period, 41,138 insurance claims for the theft of copper, bronze, brass or aluminum were handled—39,976 of them (97 percent) for copper alone.

The NICB notes that the number of claims filed has a statistically significant correlation with the price of copper.

The report notes that the state with the most metal theft claims continues to be Ohio, which had 4,144 claims filed in 2013; followed by Texas, with 2,827 claims; California, with 2,489 claims; Pennsylvania, with 2,345 claims; and Georgia, with 2,067 claims.

The top-five Core Based Statistical Areas generating the most metal theft claims were New York-Newark-Jersey City (New York-New Jersey-Pennsylvania) at 1,725; Chicago-Naperville-Elgin (Illinois-Indiana-Wisconsin) at 1,386; Philadelphia-Camden-Wilmington (Pennsylvania-New Jersey-Delaware-Maryland) at 1,200; Atlanta-Sandy Springs-Roswell (Georgia) at 1,198; and Dallas-Fort Worth-Arlington (Texas) at 948.

Sponsors

Current Issue

Follow us on Twitter
Follow us on LinkedIn
x