A new report out Wednesday shows this year’s eruption of woke rioting to be the most expensive outbreak of civil unrest in U.S. history, costing insurance companies an estimated $2 billion to cover protestor wreckage in the days following George Floyd’s death.
The sky high price tag comes from an assessment by Property Claims Services (PCS) published in Axios which has tracked claims related to social disorder since 1950. The company classifies any violent outbreak sparking more than $25 million in claims a “catastrophe.”
The $2 billion figure covering claims made from rioting across 20 states between May 26 and June 8 dwarfs the dollar-amounts doled out by insurance companies in the aftermath of previous periods of unrest isolated to individual cities.
“It’s not just happening in one city or state – it’s all over the country,” Loretta L. Worters, a spokesperson for the group told Axios. “And this is still happening, so the losses could be significantly more.”