Rising scrap metal prices increase thefts says Ecclesiastical
Ecclesiastical Insurance says rising lead and copper prices have led to an increase in theft of metals from church roofs, the FT reports.
Ecclesiastical has moved from a small loss to a profit of £27m in the year to December, based on an 11% rise in gross written premiums, favourable weather conditions and lower metal theft from churches.
But since the end of 2009 rising prices for scrap metals, such as lead, prompted rising thefts.
Metal theft claims dropped from £7.98m in 2008 to just over £2m in 2009. but 427 claims cost £995,000 in the first four months of this year, compared with 190 claims costing £450,000 in the same period last year.
