As the price of copper and unemployment rates rise, theft of copper and other metals looms large for insurers and risk managers.
Burgeoning theft in this arena should cause insurers to take pause on this coverage and some risk managers are faced with vacant buildings now stripped of copper wiring, pipes and other items containing metals. Construction sites also are at risk.
These thefts aren't just impacting the commercial sector, thieves are also breaking into vacant homes, stealing anything that can be quickly turned over for profit or sold for scrap metal.
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