Praise be: vicars benefit as lead thefts follow prices decline

The economic gloom spells woe to many, but there is one group for whom the downturn has brought a welcome if unexpected benefit: vicars.

As a consequence of the collapse in global commodities prices, which has seen the cost of metals plunge to a fraction of their value just several months ago, thefts from church roofs have begun to abate, insurers say. More widely, the economic decline has seen a parallel dip in the theft and sale of all stolen scrap metals, a crime which became so lucrative as commodity prices rose that thieves resorted to the wholesale theft of manhole covers, metal road signs and power cables.



Perhaps the most immediate effect has been felt in the specialised world of ecclesiastical insurance, which spent years at the frontline of one of the most spectacular crime booms, as thieves stripped churches of lead from roofs, stole lightning conductors and even removed bells and gates to be melted down.

Ecclesiastical Insurance, which covers 95% of the country's Anglican churches, once paid out on only a handful of such claims every year. But as lead prices soared to a peak of just under $4,000 a tonne, the liability rose to more than £9m last year, a figure which increased again to £1m a month earlier during 2008. But with lead now hovering at around 25% of its peak, claims in October dropped to around £600,000. "It seems to be slowing down, admittedly from a very high level,"said Chris Pitt, a spokesman for the insurer. "We still expected 2008 will be the worst year in history for metal theft from churches, but hopefully if prices stay low it could start to drop further."