Pretty soon a lot of businesses will be following the Colts.
What are the chances that insurance companies will use that nit-wit mayor’s words and actions to curtail, delay, or deny any claims made by the damaged businesses? Or at least sue Baltimore for damages paid out for allowing the rioting to get out of hand?
Pretty soon a lot of businesses will be following the Colts.
I think it is highly likely that the lawyers for the insurance companies are already preparing to deny claims based in part on the words of the Mayor.
They won’t have to. Almost every insurance policy has an exclusion for damages due to riots etc.
Thinking logically, insurance companies cannot deny the claims because the mayor's actions, and actions of rioters, were not caused or permitted by the insured people. The insured persons could not prevent this development no matter how hard they tried. The only way for an insurance company to not pay is if the contract disclaims their responsibility in case of a riot. And even then it remains to be seen.
However insurance companies, after paying the claims, *will* sue the mayor, the police, and everyone else who could possibly influence the outcome. It's what they are supposed to do - to be a buffer between the injured party and the guilty party. They aren't going to just absorb the losses, especially considering that it's a lot of money. Given the unwise statements of the mayor and the reluctant response of the police, they'll have an excellent case.
And premiums will go through the roof.
Not sure. I bet s hefty rate hike is aleready in the works.
“It’s only property.”