Please don’t conflate protestors with looters. That’s what some people want you to do. And the local news is happy to play along with their constant looping of fear porn.
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I know, pets are funny. Folks are a nervous wreck and they’re just wondering where their snack is.
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Apparently not in the long run. Column: Stores may be insured for looting. But guess who pays in the end (hint: you)
Insurance companies always win, or more charitably, there’s no free lunch. This is just going to make it even more unaffordable for mom and pop operators, leading to further commoditization of restaurants. Even more well-heeled restaurant groups, who no matter how well heeled they are operate on thin margins, are going to feel the pinch, leading to price increases at a time when the market may not be able to absorb more price increases.
Destroying communities benefits no one.
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Between the visuals of the police being out in force for the peaceful SaMo protest while looters ran amok essentially next door and the LAPD chief saying that just 10% of people arrested were looters, I’m pretty comfortable in saying the police have done a weak job of protecting people and small businesses from harm.
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Property rates may go up 10 to 20% so perhaps an addition of $1,000/ year per $1,000,000 in covered property if it’s a non-admitted market. For the standard markets offering BOP policies, it’s going to be much less. So it’s not a make or break situation for most of these guys.
For commercial property and casualty (P/C) insurers, their margins are notoriously thin. People think restaurant industry margins are thin at 3 to 5%? Take 2018 and 2019, the P/C industry generated a .7% and 1.2% profit margin!
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Grow house equipment?
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Can’t like this comment enough!
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Just walked over to the Century City mall – thought I would hit Eataly and Gelson’s for some provisions because I’m running low. I guess I should have checked first because the mall is entirely locked down with LAPD outside.
On the bright side, I got some badly needed exercise. Ended up getting lunch at the little grill place inside the medical plaza. Business there was booming with construction workers and workers from the rehab hospital. All the grill employees working hard in their masks, constantly wiping things down, etc.
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There’s not always as clear a line between the two as there was in Santa Monica on Sunday.
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Yep, we saw it over here at Pan-Pacific Park. It was really peaceful - some people brought their kids. But when the police showed up it triggered something and the young people who’d been cooped up for months became enraged. It happened so fast. They started off by yelling, then stormed The Grove & Whole Foods and started pelting cops with fruit (a lot of blueberries) then escalating to water bottles and you know the rest. You could see on the news those (not the planned, organized looters & destroyers) loitering around the broken windows contemplating whether or not to take advantage of the situation by grabbing something. Anthropologists or whoever studies these things will dine on this moment for a long time.
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For the ones who brought hammers and other tools of vandalism, it had nothing to do with having been cooped up and it wasn’t a trigger. It was the cue they’d been waiting for.
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Yes, of course. There was an element of planned agitators. There’s so many different elements here. But some local news stations are not doing a responsible job of reporting. They’re feeding on it and painting the picture in black & white (the colors, not racial terms). And some talk radio hosts with millions of listeners and who get to spew opinions are literally painting it in racial terms. One host was actually saying “people of color need to realize this and people of color need to realize that.” What? Like every brown-skinned person out there is somehow responsible for all the destruction. And THAT is the problem and why people are so angry and actual protesters are protesting! And why history repeats itself. We learn nothing.
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Oakland had a lot fewer riots after they elected a new mayor.
Okay…?
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Somebody learned something.
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Thanks you fuckers who looted and destroyed property. The insurance companies were struggling already with fire insurance policies. I’m sure my homeowner’s is going to have a large increase. Thanks again .
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Not because of my company. We’ve been giving them free money for years. 
Looking at multiple IG accounts of businesses, it’s been interesting to see the varied reactions from restaurants and other business owners. How many are saying they understand the anger behind the protests and although the damage was heartbreaking, it was nothing compared to the heartbreak of senseless deaths such as Floyd and how much heartbreak his and similar families have endured.
Then there are the people who are justifiably just mad at the damage and trying to rebuild amid the current conditions.
I can empathize with the most with those two view points, it’s tough and human to have a wide range of emotions and reactions. Although I may not feel the same way, I can usually empathize with where they are coming from. I guess the only viewpoint I struggle to find any empathy with is the one that strikes up more fuss over the loss of property than over the injustice of an innocent man casually murdered.
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Yeah, you fuckin’ foodie fucks! Put down that uni! Put down that mango cream pie! Think of the insurance companies! You know how much that is going to cost me in homeowner’s insurance increases next year!
Who are you yelling at? Take it somewhere else.
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Most of the looting, vandalism, and arson had nothing to do with the events that people are protesting. The protests just provided cover for thieves and pseudo-political assholes.
I don’t think the state allows insurance companies to raise premiums for one line of business to offset losses from another. And lots of small businesses aren’t covered for arson or looting anyway. And your homeowner’s policy probably doesn’t, either.
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