Protests in 140 cities across America in the wake of the death of George Floyd devolved into violent looting and riots that have destroyed black lives, black livelihoods, and black monuments. At least 26 Americans have died in the riots, most of them black. The first two weeks of these deadly riots were officially the most destructive riots in U.S. history when it comes to insurance claims.
The looting, vandalism, and arson that took place between May 26 and June 8, 2020, will result in at least $1 billion to $2 billion in paid insurance claims, Axios reported on Wednesday. This total eclipses the $775 million (in 1992 dollars) — $1.4 billion (in 2020 dollars) — paid out after the Los Angeles riots following the acquittal of the police officers who brutalized Rodney King. Other riots in the 1960s, 1970s, and 1980s did not reach $500 million in 2020 dollars.
More than 700 buildings were damaged or destroyed in Minneapolis alone.