Posted on 09/05/2020 5:33:52 AM PDT by unclejohncornbread
How much more losses can they take of preventable claims? Mayors like those in Portland and Chicago should be held libel.
Maybe never. Many of today’s CEO’s are “progressives” They don’t want to be seen as not down with the cause. That leaves it up to Stockholders to vote them out. Rarely does that happen.
Insurance policies typically exclude riot related losses I believe.
Most businesses and certainly almost all individuals do not have riders on their policies for acts of God, rioting, looting, etc. The premiums for this in cities must be sky high. The insurance companies do not have a problem here.
But these are peaceful demonstrations
Many do, some don't. Homeowner's policies will generally exclude civil disturbance, but commercial policies, perhaps not as much. Even for those that do exclude riots, the media representation of the riots as, "protests and demonstrations," and the concurrent local government responses treating them as such will make it harder for an insurance company to deny claims based on a riot when local authorities didn't declare it as such.
Also, while policy language may clearly exclude riots and civil disturbances in some cases, they will, as a general rule, cover vandalism and theft.
I suspect a lot of denied claims will go into litigation based on the above, much as, after Hurricane Katrina, there were countless suits based on interpretations of flood damages (not covered in basic homeowner's policies) vs. "wind and wind driven rain" damages (which typically are covered).
The next question is how in the hell will businesses in those towns get insurance after they finally can reopen?
Insurance companies usually have clauses where they do not pay, such as for civil disturbances, riots, acts of war, etc.
In Portland, the disruption is around a two block area. Insurance companies are not going broke.
Force Majeure..They simply won’t pay (can’t pay), and then the people who have paid millions already for the insurance will realize how insurance works.
“But these are peaceful demonstrations”
Mostly.
I learned that lesson my self when tools were stolen from my work truck and the insurance Co. required recites for all tools, some of which were 20 years old. Canceled that part of my policy.
That’s what I was thinking. I’m pretty sure I saw that on my homeowners insurance in the past.
States usually regulate insurance premiums. It will be easier for the insurance companies to request a rate hike.
So you see?
We all get to pay for the looting.
So much for Antifa’s claim that these are victimless thefts.
LIABLE ... it’s different
LIBEL is different than LIABLE
Sorry, it’s early ...
As I recall, it was Herman Goering who shut down the
Krystallnacht pogrom when the insurance companies came
to him about the millions of Marks to replace the
broken store fronts.
Insurance companies are all in in their support of blm.
On the company chat page I've seen some employees actually say it's ok to burn down property.
There are already people in Chicago and other liberal rioter friendly towns finding out that if insurance does pay, it is like 25K when the city bills them 50-100K just to tear down the burned out building.
Policy limits are policy limits. Just like with car insurance people more often look at the lowest premium rather than max coverage.
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