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New Regulation Seeks to Help New York Businesses Pursue Looting Insurance Claims
Author: Ajoe P. AbrahamDate: August 23, 2021
The civil unrest that gripped the country will likely result in record riot losses, likely surpassing those in the wake of the 1992 acquittal of Los Angeles Police Department officers for using excessive force in the arrest of Rodney King. The economic fallout from the most recent civil unrest is particularly significant given that it impacted businesses already reeling from COVID-19.
For New York businesses that were looted, vandalized, or otherwise damaged, the good news is that business insurance policies generally cover property damage caused by such incidents. So while many companies have faced an uphill battle in filing business interruption claims related to the COVID-19 crisis, these claims should be more clear-cut.