RUSH: “$1 Billion-Plus Riot Damage is Most Expensive in Insurance History.” I want to read this. This is in Axios. And they’re all excited. They think this is great. The insurance industry is getting soaked. And they love it. They love a gigantic American corporation or industry which they believe rips everybody off, the insurance industry.
So here now, the insurance industry, after the death of George Floyd and all the riots in all these blue states and cities, and Axios claims they have an exclusive here. “$1 Billion-Plus Riot Damage is Most Expensive in Insurance History.” And listen to how they write this.
“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. Why it matters,” says Axios. Well. “The protests that took place in 140 U.S. cities this spring were mostly peaceful -”
Mostly peaceful led to the most expensive insurance payouts in history? How does that work? They were “mostly peaceful, but the arson, vandalism and looting that did occur will result in at least $1 billion to $2 billion of paid insurance claims — eclipsing the record set in Los Angeles in 1992,” after the Rodney King imbroglio.
Now, why it matters, folks, is because we, the consumers, are going to end up paying higher premiums for our own insurance, not to mention we’re gonna have to pay higher prices for things because every business and company is gonna have to pay higher insurance premiums themselves. But I’ll guaran-damn-tee you the 20 years old at Axios don’t know anything about insurance except that they’re supposed to hate it. And that they’re on their parents’ health insurance plan, so it’s not even a responsibility that they have. They just love it that some industry is getting soaked.