Breitbart News reports that rioting by the domestic terrorist organizations Antifa and Black Lives Matter (BLM) has wreaked the most manmade property damage in the history of our country.
Property Claim Services, a company that tracks insurance claims filed due to riots and the like, found that the nationwide rioting between May 26 and June 8 of 2020 could reach $2 billion in insurance claims. The company acknowledges that “this is still happening, so the losses could be significantly more.”
John Nolte at Breitbart notes that Antifa and Black Lives Matter have caused more mayhem and property damage in eight or nine days of rioting than throughout all six major American riots of the 1960s. And these estimates are based on 2020 dollars. Previous riots like the 1992 Rodney King riots in Los Angeles cost $775 million in 1992 dollars. That adds up to $1.42 billion today — still lower than the $2 billion BLM riots estimate so far.
Not only that, but “U.S. companies have learned the hard way that their insurance doesn’t cover business interruption related to the coronavirus, most policies emphatically do cover riot-related losses.” So the damage estimate refers only to what has been insured, not the incalculable losses due to business interruption.