New data shows months of destructive anti-police protests left a record high repair bill for property owners.
Nearly two weeks of looting of businesses and vandalism against religious and historical monuments created multibillion-dollar damages across the nation.
The Insurance Information Institute (Triple-I) estimates the total value of insurance claims across 20 states peaked between $1 billion and $2 billion in the two week, following the death-in-custody of Minnesotan George Floyd on May 25.
The figure is nearly three times higher than the previous 1992 Rodney King riots in Los Angeles that resulted in claims worth a combined $775 million. According to Triple-I data obtained by Axios, the latest claims are almost 50 times greater than the 1965 Watts riots in the City of Angels that caused at least $44 million in damages.
Triple-I confirmed the 2020 damages were not confined to southern California and even reached a national scale. There is also potential for the total value of insurance claims to exceed $2 billion because civil unrest is continuing.
“It is not just happening in one city or state, it is all over the country,” Triple-I spokeswoman Loretta Worters said, according to the publication. “This is still happening, so the losses could be significantly more.”
Property Claim Services (PCS) believes this prediction is accurate because there is a high chance of more extreme anarchist protests in the weeks leading up to the general election on Nov. 3. PCS considers any event that causes more than $25 million in damages to be a “catastrophe.”
“There could be riots that lead to significant losses that would meet our reporting thresholds,” PCS Assistant Vice President Strategy and Development Tom Johansmeyer said, according to Fox News.
In the past four months, extreme anarchist protests have spread across much of the nation with the promise of supporting less police brutality and greater racial equality. However, RedState contends rampant looting of businesses and vandalism against religious and historical monuments did little to change America’s racial equality.
“Here is my contention: There is nothing good coming from Black Lives Matter (BLM), nothing at all,” RedState contributor Bonchie said in an opinion piece. “It has only gotten much worse. In the wake of George Floyd’s death, dozens of people have been killed as a result of the riots that have stemmed from BLM ‘protests’ [and] men like David Dorn are dead today because BLM encouraged destruction and harm.”
The Oval Office confirmed the crime rate dramatically jumped in July as the frequency of protests began to rise.
More than 300 Americans were shot in New York City, representing a 277 percent increase on the same month in 2019. The number of murders soared 94 percent in Minneapolis and 27 percent in Philadelphia compared to the previous corresponding period in 2019.
Illinois arguably had the worst crime wave so far this year with at least 414 murders, representing a 50 percent increase on the previous year. More than 1,900 people have also been shot.
“Perhaps no citizens have suffered more from the menace of violent crime than the wonderful people of Chicago, the city I know very well,” President Donald Trump said in a video shared on Facebook. “These are numbers that are not even to be believed.”