As I was watching the morning news, I heard some pundits, who obviously had no idea about insurance, claim that those people whose businesses, buildings, and inventories were destroyed by fire, vandalism, and theft during the so-called mostly peaceful demonstrations were not victims, nor were they harmed, because they were indemnified by insurance.Risk Management
That conclusion is unconscionable and totally wrong on its face. They have apparently never read, let alone learned from history.
When I was a young man, the Watts riots of the 1960s destroyed a great part of South Central Los Angeles.
Those whose properties were destroyed who had insurance found it was impossible to rebuild and do business in the area because of the riots and the attitudes of those who destroyed their businesses coupled with the reluctance of the insurance industry to insure any business or structure in Watts.
It took more than 3 decades for the destroyed structures and businesses to begin to be rebuilt.