Damage From Riots Across US Will Cost at Least $1 Billion in Claims

©Shutterstock.com

Civil unrest swept the country after the death of George Floyd in Minneapolis in May. The Insurance Information Institute (or Triple-I), which compiles information from companies that track insurance claims related to civil disorder, has released its findings related to damage caused in the time period just after Floyd’s death.

Triple-I told Axios that damage between May 26 and June 8, which was not necessarily caused by participating protestors, will be the most expensive in the nation’s history. It surpasses even the 1992 Rodney King demonstrations in Los Angeles.

The Insurance Information Institute even expects the insurance price tag to approach — and possibly exceed — $2 billion. One thing that sets these demonstrations apart is that they weren’t confined to a single geographic area. Instead, they were spread across the United States.

“It’s not just happening in one city or state – it’s all over the country,” Loretta L. Worters of the Triple-I shared with Axios. “And this is still happening, so the losses could be significantly more.”

More From GOBankingRates