Word: onebeacon
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Property owners, it turns out, do not watch the commodities market as keenly as druggies do. "People think of copper as cheap, like sand," says OneBeacon Insurance Group executive Charlie Sidoti. "But now you have to think of it like gold. You would never leave gold sitting out in the yard." OneBeacon estimates that it has seen a 300% increase in claims of copper theft in the past 18 months. Home foreclosures have worsened the trend, as empty buildings are easy targets for the time-consuming task of ripping out pipes and wiring. In California, theft of copper irrigation systems...
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