As nationwide protests against the killing of Black Americans by police engulfed the country this summer, many small businesses unintentionally found themselves in the crosshairs of conflict. Pockets of looting and destruction left behind shops with smashed windows and damaged merchandise, and owners wondering who would foot the bill.
It’s unclear just how extensive the losses are at present. A preliminary estimate from insurance industry analysts as of June 4 put the range of covered losses between $500 million and $900 million. Should things continue at this pace, this year’s incidents of civil unrest could rival the Rodney King riots, which occurred April 29 to May 4, 1992, in Los Angeles.
