Several States Address Protest-Related Property Claims

While the “Black Lives Matter” movement sweeping the US has been largely peaceful, some businesses have suffered from looting and vandalism with several state insurance regulators responding by ordering insurers to expedite any property damage claims affected businesses might file.

The Illinois Department of Insurance issued a bulletin – Company Bulletin 2020-15 – which orders insurers operating in the state to expedite claims filed by businesses that experienced looting.

Director Robert Muriel of the Illinois Department of Insurance also asked insurers to advance claim payments, and to “err on the side of the policyholder” when paying for riot, civil unrest, and vandalism claims – even if the policyholder was unable to pay their premiums in full during the period following the state’s lockdown order on March 20, 2020.

“The department understands the importance of the insurance industry in the recovery during times of great loss and thanks insurers in advance for handling claims in a fair and timely way,” said Muriel in the bulletin release.

“We encourage insurers to assist in whatever additional ways they can and trust the insurance industry stands ready to be a critical participant in recovery.”