Riots and looting that took place following George Floyd’s death while in the custody of the Minneapolis Police Department will cost insurance companies up to $2 billion, making them the most expensive incident in insurance history.
Floyd’s death on Memorial Day weekend sparked nationwide anti-racism and anti-police brutality protests, which agitators, bent on violence, used as cover to wreak havoc in many of America’s major cities. The resulting damage is already costing cities like Minneapolis in the hundreds of millions of dollars, per Minneapolis Business Journal, and now insurance companies report they could be on the hook for billions more.
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