“A new assessment first reported by Axios shows the financial cost of the rioting is on its way to at least $2 billion, making it the most expensive in history. ‘The vandalism and looting following the death of George Floyd at the hands of the Minneapolis police will cost the insurance industry more than any other violent demonstrations in recent history, Axios has learned. That number could be as much as $2 billion and possibly more, according to the Insurance Information Institute (or Triple-I), which compiles information from PCS as well as other firms that report such statistics. The protests related to George Floyd’s death are also different because they are so widespread. “It’s not just happening in one city or state–it’s all over the country,” Loretta L. Worters of the Triple-I tells Axios. “And this is still happening, so the losses could be significantly more’” (“Exclusive: $1 billion-plus riot damage,” axios.com, Sep. 16, 2020). Worse, the communities hit the hardest may never recover. South Los Angeles still lives with the consequences of the 1992 riots.”
“Cost of Recent Riot Damage,” Townhall, Sep. 16, 2020