Are insurance companies paying for damages resulted from riots?

As someone who has worked (often) as an insurance investigator, insurance companies always pay for vandalisim, theft, fire etc.... BUT should they pay when local police officers stand down and watch as their cities are being looted and burned to the ground? I think not.

I hope these insurance companies sue the local and state governments for rebursement due to negligence by local and state authorities for failing to control the riots and ALLOW the burning and looting.

Those burned down establishments can not only request reimbursement for damaged property but also for loss wages (if they have the proper insurance coverage) and most burned and destroyed businesses will benefit greatly from these riots....very few are bitchin about this because they are getting paid.

I believe the insurance companies will not stay silent for much longer.......

Since the riots.....has your property been burned down or destroyed due directlyto the riots?

Have you been already paid by your insurance company? If not, please explain why?

Peace

DS

a reply to: DeathSlayer

Yes but I'm sure they are canceling insurance in the affected areas by now. Like that car lot, all those cars will get expensive though I'm sure some mom and pops decided not to get coverage so they will end up taking the hit instead. that's going to be a huge problem in say portland what company will want to cover those businesses??

originally posted by: DeathSlayer
As someone who has worked (often) as an insurance investigator, insurance companies always pay for vandalisim, theft, fire etc.... BUT should they pay when local police officers stand down and watch as their cities are being looted and burned to the ground? I think not.

I hope these insurance companies sue the local and state governments for rebursement due to negligence by local and state authorities for failing to control the riots and ALLOW the burning and looting.

Those burned down establishments can not only request reimbursement for damaged property but also for loss wages (if they have the proper insurance coverage) and most burned and destroyed businesses will benefit greatly from these riots....very few are bitchin about this because they are getting paid.

I believe the insurance companies will not stay silent for much longer.......

Since the riots.....has your property been burned down or destroyed due directlyto the riots?

Have you been already paid by your insurance company? If not, please explain why?

Peace

DS

I would say most likely, Which begs the question is anyone getting up front cash for damages in advance.

Insurance companies do pay an advance on a large insurance claim....then once the claim is settled...the pay the open balance.

BUT I also know that there are a few businesses that were doing poorly and then saw the chance to burn down their own property and then blame the rioters.

I bet every business who files an insurance claim is an over inflated claim....they always do......and I always caught them...

DS

originally posted by: Robbo2006

originally posted by: DeathSlayer
As someone who has worked (often) as an insurance investigator, insurance companies always pay for vandalisim, theft, fire etc.... BUT should they pay when local police officers stand down and watch as their cities are being looted and burned to the ground? I think not.

I hope these insurance companies sue the local and state governments for rebursement due to negligence by local and state authorities for failing to control the riots and ALLOW the burning and looting.

Those burned down establishments can not only request reimbursement for damaged property but also for loss wages (if they have the proper insurance coverage) and most burned and destroyed businesses will benefit greatly from these riots....very few are bitchin about this because they are getting paid.

I believe the insurance companies will not stay silent for much longer.......

Since the riots.....has your property been burned down or destroyed due directlyto the riots?

Have you been already paid by your insurance company? If not, please explain why?

Peace

DS

I would say most likely, Which begs the question is anyone getting up front cash for damages in advance.

Insurance rates will probably skyrocket for those who stay in Portland and the other cities currently being damaged.
Many businesses will not build back and who can blame them? The people of these cities will have years to reflect and realize exactly how much they’ve lost. It’s a shame.

How y’all liking “Build Back Better” Portland and Kenosha? I bet you didn’t realize they needed to burn everything down first.

Insurance loses are in the billions and tax payers will have to pull them out of the fire, just like they did for AIG.

How anyone does business with AIG ....deserves the punishment they give their customers....

originally posted by: TheLieWeLive
Insurance rates will probably skyrocket for those who stay in Portland and the other cities currently being damaged.
Many businesses will not build back and who can blame them? The people of these cities will have years to reflect and realize exactly how much they’ve lost. It’s a shame.

How y’all liking “Build Back Better” Portland and Kenosha? I bet you didn’t realize they needed to burn everything down first.

Nearly every policy has a riot and civil disturbance exclusion. So no insurance policies are not covering

a reply to: DeathSlayer

Insurance loses are in the billions and tax payers will have to pull them out of the fire, just like they did for AIG.

No risk for the insurance companies... If a catastrophe ever hits that effects their profit margin they get bailed out. Privatizing profits and socializing losses ...

Insurers say the federal government should be ones paying

pandemic threatening to create a “solvency event” for the industry

World Bank launches 'pandemic bond'

The catastrophe bond, which will pay out depending on the size of the outbreak, its growth rate and the number of countries affected

a reply to: DeathSlayer

A good question, I thought that too, watching all those cars getting smashed up and buildings plus infrastructure (streetlights, burning electric lines).

Just shows again and again these riots are not about voicing didconcern but mere anarchism lived.

Just because these scumbags do not posses anything of value, does not give them the right to go out and destroy others.

They just want to act out and bring misery to their fellow citizens.

Most commercial insurance companies have a terrorism Rider I know we do and it's extra. So if they name groups terrorist they will have to upgrade your insurance. Our Non profit insurance is almost $10,000 a year and adding terrorism was like $50 we turned it down.

Then the businesses have lost everything. No one owes them for this horrific disaster?

It figures.......

Goodbye self employed

Hello garbage can dinners. Instead of eating your TV dinners while watching your favorite shows, now you can eat in the back alleys while watching rats fight for your crumbs.....

originally posted by: dashen
Nearly every policy has a riot and civil disturbance exclusion. So no insurance policies are not covering

Insurance doesn't cover that much of the damage from what most are saying. Only ones that can truly absorb it are large franchises because they have a bigger pool of money and likely an interal insurance division. The local bar and grill is screwed.

originally posted by: DeathSlayer
As someone who has worked (often) as an insurance investigator, insurance companies always pay for vandalisim, theft, fire etc.... BUT should they pay when local police officers stand down and watch as their cities are being looted and burned to the ground? I think not.

I hope these insurance companies sue the local and state governments for rebursement due to negligence by local and state authorities for failing to control the riots and ALLOW the burning and looting.

Those burned down establishments can not only request reimbursement for damaged property but also for loss wages (if they have the proper insurance coverage) and most burned and destroyed businesses will benefit greatly from these riots....very few are bitchin about this because they are getting paid.

I believe the insurance companies will not stay silent for much longer.......

Since the riots.....has your property been burned down or destroyed due directlyto the riots?

Have you been already paid by your insurance company? If not, please explain why?

Peace

DS

Under "Act of God"...destroyed businesses can collect because:

It was unpreventable, couldn't be stopped, not their fault....

Buuuttt....some may not be covered if they've dropped some coverage...to lower their monthly rates.

Are the riots an act of God?

a reply to: mysterioustranger

My company has a riot and civil disturbance exclusion so those things aren't covered and the rider to get them covered was a lot extra, more than my little tiny company could absorb. We are a little rural company, so it isn't a big risk for us wondering if we'll get burned out or looted, especially out here in fly-over where there is a very different mindset in regard to rioters coming out our way, but if it happens, my company is on its own with no help from insurance.

Take care,
Cindi

originally posted by: DeathSlayer
Are the riots an act of God?

a reply to: mysterioustranger

Apparently, they are for the exact reasons I stated above....It was unstoppable, unplanned, no one person's fault

"Act of God" can be interpreted many ways.

But in Michigan...people along the Huron, river, Raisin river...many can't GET flood insurance...because they do live by the river

originally posted by: Glencairn
My company has a riot and civil disturbance exclusion so those things aren't covered and the rider to get them covered was a lot extra, more than my little tiny company could absorb. We are a little rural company, so it isn't a big risk for us wondering if we'll get burned out or looted, especially out here in fly-over where there is a very different mindset in regard to rioters coming out our way, but if it happens, my company is on its own with no help from insurance.

Take care,
Cindi

Thank you Ms. Cindi!

a reply to: DeathSlayer

They don't have much choice but to pay.
The part that gets glossed over is that insurance companies will probably now refuse to cover property in the effected areas.

That or the rates will be unaffordable.

Then we will hear that no businesses are operating in minority areas.
Well duh...

If they are paying out for riot damage they should be turning around and suing the municipalities for failure to protect assets.

a reply to: DeathSlayer

EVERYONE who was trapped or accidentally caught in riot areas and has been hurt physically by the rioters in Democratic run cities

EVERYONE who has had their car damaged by the riots in Democratic run cities

EVERYONE who has had businesses looted by the riots in Democratic run cities

EVERYONE who has had businesses burned and destroyed by the riots in Democratic run cities

SHOULD SUE the cities, the state, the Mayors and the Governors for failure to protect them

INSURANCE COMPANIES should also sue and they have the lawyers to do it and to get big time compensation and they have an excellent case for massive billion dollar lawsuits.

If it can be proved (and I'm 99% sure it can be proved) that the police were told to stand down on day one of the riots - once it started with the tacit permission of the Democrat politicians (telling police to stand down) it became their fault for failure to protect.

I'm surprised the lawsuits have started already, maybe they have and the media is hiding it from us. These Governors and Mayors need to PAY and PAY big time for telling police to stand down which turned one night of violence into months of violence, terrorizing of citizens, mayhem, destruction.