metaltheftdecline

The National Insurance Crime Bureau (NICB), 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.

In 2011, 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 over 26 percent from 2011. During this 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 report showed a direct correlation between number of thefts claimed the price of copper.

The top five core based statistical areas generating the most metal theft claims were New York-Newark-Jersey City, NY-NJ-PA (1,725); Chicago-Naperville-Elgin, IL-IN-WI (1,386); Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (1,200); Atlanta-Sandy Springs-Roswell, GA (1,198) and Dallas-Ft. Worth-Arlington, TX (948).

While this report focuses exclusively on submitted insurance claims, the impact is still felt by you, the consumer. Losses through theft trickle down through government agencies and are spread over the customers and tax payers through higher cost for goods and services.

While metal thefts continue, this downward trend may be attributed to the current legislation being passed in Ohio, Pennsylvania, as well as other states, requiring scrap metal dealers to obtain identification from scrap sellers, as well as prevents cash payments to the vendors.

TT&E Iron and Metal is an avid partner in building a strong partnership to combat metal theft in North Carolina. At the local scrap metal recycling facility, customers are verified and every transaction made through drop-off is computerized from entry, weigh in, weigh out to final payment. As a member of RANC (Recycling Association of North Carolina), the association takes part in the initiative to influence NC legislation to pass laws to curb the problem.

Scrap metal theft is a worldwide epidemic and there are many local, state, and federal laws being introduced. In North Carolina alone, there have been 3 separate bills passed regarding this issue since 2007.

You can help stop scrap metal theft! Visit www.scraptheftalert.com to learn more.

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