Black Woman Justifies $2Billion In Riot Damage [VIDEO]

The rioting and looting following the death of George Floyd will cost the insurance industry more than any other violent demonstrations in recent history.

https://youtu.be/MfEzS3CyOWM

The protests took place in 140 U.S. cities and while much was peaceful, a great deal was violent with arson, vandalism and looting.  The damage caused by the rioting and looting will result in at least $1 billion to $2 billion of paid insurance claims — eclipsing the record set in Los Angeles in 1992 after the acquittal of the police officers who brutalized Rodney King.

A company called Property Claim Services (PCS) has tracked insurance claims related to civil disorder since 1950. It classifies anything over $25 million in insured losses as a “catastrophe,” and reports that the unrest this year (from May 26 to June 8) will cost the insurance industry far more than any prior one.

Axios notes:

  • That number could be as much as $2 billion and possibly more, according to the Insurance Information Institute (or Triple-I), which compiles information from PCS as well as other firms that report such statistics.
  • The protests related to George Floyd’s death are also different because they are so widespread. “It’s not just happening in one city or state — it’s all over the country,” Loretta L. Worters of the Triple-I tells Axios.
  • “And this is still happening, so the losses could be significantly more.”

Join The Discussion

Related Posts
Total
26
Share