Reposted from ACE.
Insurers balk at insuring Portland businesses; exclude future damage related to civil unrest
Do you remember a few months ago during the peak of the BLM/Antifa rioting when Democrats and the media (but I repeat myself) were either silent about the violence, or they actually praised property destruction and looting? As for the lives and businesses destroyed, they just dismissed the damage as harmless because “insurance will pay for it.”
NPR actually spent your tax dollars to advocate for looting, publicizing Vicky Osterweil’s book “In Defense Of Looting” and effectively endorsing the book with its tongue-bath of an interview.
You’ll never guess what happened next.
“So earlier this month, Murfitt settled for a policy that nearly quadrupled his premium, had a significantly higher deductible, included a much smaller cap on coverage related to robbery and excluded any property damage related to civil unrest.”
So to get insurance at all now, these small business owners face crippling rate hikes, and the next round of Democrat-endorsed looting won’t even be insured, because “civil unrest” is excluded. Our Democrat and media elite genuinely had no idea about the actuarial risk that determines insurance availability and pricing. They just assumed insurance is like electricity – another routine bill for a service that is universally available.