Officials also said their overall response led to $2.57 million in overtime costs for the . Damage From Riots Across US Will Cost at Least $1 Billion in Claims. A photo of the Grand Rapids riots on May 30, 2020. Lincoln Mall damage, May 31, 2020 Take a walk along Lincoln Mall on May 31 in the aftermath of rioting that caused nearly $3 million in estimated damages to buildings and prope 1 min read. Martin Luther King Jr. . So far, 103 businesses have applied to the alliance's fund . The City of Grand Rapids has put preliminary damage estimates for last weekend's riot at $448,000. Many windows were shattered at the business during Friday night's George Floyd protests. BLM activists were involved in 95 percent of the riots for which there is information about the perpetrators' affiliation. . "Your client acknowledges that the riot that occurred on January 6, 2021, caused as of May 17, 2021, approximately $1,495,326.55 damage to the United States Capitol," said a plea agreement signed by defendant . riot damage store shutterstock_1747212029. But it's wrong to say protesters didn't face consequences. . That would make the Twin Cities riots the second-costliest civil disturbance in U.S. history, trailing only . In fact, it has exceeded $2 billion so far and could still go higher. One study examining the aftermath of the Rodney King riots found that extensive economic fallout haunted Los Angeles. Rioting in Los Angeles in August 1965 the second costliest civil disorder caused $357 million in damages, measured in 2020 dollars. DENVER (CBS4) - The City of Denver says $1,034,782 in damage was done during recent protests downtown. 2020 4:06 PM ET. $550 million in Minneapolis-Saint Paul (May 26-June 6, 2020) [5] $1-2 billion in insured damages in the United States (May 26-June 8, 2020) [6] The George Floyd protests were a series of protests and civil unrest against police brutality and racism that began in Minneapolis, Minnesota on May 26, 2020, and largely took . The original $1 billion in property damage was eclipsed by a nearly $4 billion . Sitting at home on July 30, 2020, the Deiningers received a text from a good friend around midnight. Riots rocked Portland, Oregon throughout 2020 and have continued in 2021. Published: Jun. BREAKING: Insurance Information Institute says Summer 2020 riots caused over $2 billion in damage across 20 states . "Mostly peaceful" protests and riots that have been going on over the past few months have now caused $1-2 billion worth of damage. Just over 8,390 manhours were worked by NCSHP officers covering the riots and protests, costing taxpayers $273,505. As I've previously summarized, ample research confirms this:. Officials also said their overall response led to $2.57 million in overtime costs for the . According to the institute, property damage claims from the riots this summer have now likely surpassed $2 billion, making them the costliest riots in US history. The media seem profoundly incurious. 2020 Sep 9, 2020 Updated Sep 9, 2020; Comments; 1 of 12 SEAN KRAJACIC photos, KENOSHA NEWs Citizens . . WASHINGTON, D.C. Death Protests, Riots. Topline. . 10, 2020, 7:52 p.m. . 1 min read. A breakdown of the data from NCSHP by protest location shows that between manhours and gas usage, protests in nine locations around the state cost a total of $304,695. The average loss to the insurance industry from riot and civil disorder catastrophes over those 70 years was only around $90 million. Lonny Abbott works to board up windows at a 7-Eleven store on the 16th St. The damage from riots and looting across the U.S. following the death of George Floyd is estimated to be the costliest in insurance history - between $1 billion and $2 billion. Public cost includes seven police vehicles set on fire. found that their policy only covers a fraction of the cost of demolishing structures damaged beyond . The vandalism and looting following the death of George Floyd at the hands of the Minneapolis police will cost the insurance industry more than any other violent demonstrations in recent history, Axios has learned. The city of Minneapolis has tallied at least $55 million in property damage and looting stemming from the protests demanding justice for Geoge Floyd. The figure exceeds the estimated $77 million in damages in today's dollars that occurred during the April 1968 riots sparked by the assassination of the Rev. Mall May 30, 2020. "We took one step forward and now we have taken ten steps backward," Jahangiri said . The . One study of the 1992 Los Angeles riots concluded that not only did the destruction cause $1 billion in initial property damage, over time it led to an economic decline of $3.8 billion in sales activity and at least $125 million in tax revenue.. 2020 Riot Damage to Exceed $1 Billion, Setting New Record for Most Expensive Civil Unrest . but rioters took advantage of the momentum to damage local businesses. On Thursday, The Washington Post reported that the Capitol suffered approximately $1.5 million in damage from the Jan 6. incursion. The 1992 riots, which followed the acquittal of four police officers in the beating of Rodney King, cost $1.4 billion in 2020 dollars, according to the report, which did not give a specific damage . The damage - so far - is estimated at $996,700. Rioters burned down an active precinct with cops initially in it, set up a literal city-state, and killed 34 people. Even outside of what happened in 2020, insurance brokers said they were . Anything over $25 million receives a "catastrophe" label: TRENDING. . Total costs for the May 30 event were about $213,739, while costs for the June 5 event were about $105,275, bringing the total for the city to about $319,014, said Gregg Schildberger, a city . About half of small businesses in the U.S. aren't insured. The report from Richmond fire shows that protest-related fires cost the city more than $2.9 million in damage. By comparison, the 1992 Los Angeles riots cost insurers $775 million (or $1.4 billion in today's dollars), and the 1980 Miami riot cost $65 million ($204 million today). . By CBS4 Political Specialist Shaun Boyd June 1, 2020 at 11 . Damage due to rioting, unrest in Kenosha tops $50 million; 2,000 Guard assisted here . Estimates put the cost of protest-related damage in 2020 at about $2 billion. The initial breakdown from the city looks like this: $2.9 million for police. $1-2 billion damages (May 26-June 8, 2020) [7] An ongoing wave of civil unrest in the United States, triggered by the murder of George Floyd during his arrest by Minneapolis police officers on May 25, 2020, has led to riots and peaceful protests against systemic racism towards African Americans in the United States, [8] [9 . The report found that the damage caused by demonstrations from May 28 to June 8 cost insurance agencies anywhere from $1 to $2 billionmore than any other event of civil unrest in United States . $40,000 for the fire . In the nation's capital, costs from the protests have risen past $14.5 million. Axios, Sept. 16, 2020, Exclusive: $1 billion-plus riot . Moreover, a 2005 study examining similar riots in the 1960s found 'negative . riot damage store shutterstock_1747212029. The following chart identifies PCS's 13 largest "catastrophes" (damage claims exceeding $25 million), including current estimates of the costs of the riots in several cities in 20 states following . Exclusive: $1 billion-plus riot damage is most expensive in insurance history. . . Anything over $25 million receives a "catastrophe" label: GRAND RAPIDS, MI -- The latest rough estimate for damage and costs linked to the May 30 riot in Grand Rapids is about $2.4 million. Updated: Jun 10, 2020 / 06:20 PM EDT. Property damage. Looting following protests caused $20 million-plus in Cook County damage, state estimates The figures helped the state secure low-interest federal loans for businesses and nonprofits of up to $2 . Here's a look at some of the U.S. cities that saw the biggest protests or riots in 2020. . Taxpayers On The Hook For Damage To State Buildings That Could Cost Hundreds Of Thousands Of Dollars. At least 220 buildings have been set ablaze sin In 2020, the George Floyd protests became the first civil disorder catastrophe event to exceed $1 billion in losses to the insurance industry. A $1.9 billion security funding bill passed by the House included $40 million for . Suffice it to say this astronomical cost far exceeds the estimated $1.5 million of damage done in the Capitol riot. Prior to 2020, the costliest civil disorder event in U.S. was the 1992 Los Angeles riots, according to PCS, the insurance industry's primary source for compiling and reporting insured losses . That makes the last week of May and the first week of June 2020 the most expensive period of civil unrest in U.S. history. The damage from riots and looting across the U.S. following the death of George Floyd is estimated to be the costliest in insurance history - between $1 billion and $2 billion. Property damage in the first four days of protests and vandalism in Columbus' Downtown and Short North areas is estimated to have cost businesses, nonprofits and a state office more than $1.2 . . Together, riots in Baltimore, Chicago and New York City . TRENDING. . . "This will be a bigger event than the LA . In June, President Trump ordered the deployment of thousands of National Guard troops -- 1,200 from . The vandalism, looting, and damage caused could cost insurance companies up to $2 billion. Wilfred Reilly (@wil_da_beast630) January 8, 2021 Stacey . Their store had appeared on television and the news wasn't good. The largest riot-related insurance losses came after the 1992 Los Angeles riots, according to the Insurance Information Institute, an industry-funded consumer education association. Federal prosecutors are reportedly seeking to have all 505 rioters charged in the January insurrection pay restitution to help cover the estimated $1,495,326.55 in damage they caused to the Capitol. But the double standard for those who participated in the 2020 riots boggles . Since the death of George Floyd in late May, riots have plagued major cities across the country. The damage from riots and looting across the U.S. following the death of George Floyd is estimated to be the costliest in insurance history - between $1 billion and $2 billion. Damage From Riots Across US Will Cost at Least $1 Billion in Claims. PCS said insured losses from that event reached $775 million, or about $1.4 billion in 2020 dollars, according to the Insurance Information Institute. 1. Protests and riots in Kenosha, Wisconsin, have caused $11 million in fire damage to the city, Fire Chief Charles Leipzig said, in the aftermath of unrest from the shooting of Jacob Blake . 700 houses burnt to the ground, total damage cost at $3.1 billion (2020 USD ) The 2019-2020 Mexico riots were a series of riots of citizen commotions that occurred during December 2019 and January 2020 in western and central Mexico. Insurance underwriters are taking riots and damage into account when choosing whether or not to renew some policies. He said those riots cost almost $5 billion in economic activity measured in lost sales over 10 years. The vandalism, looting, and damage caused could cost insurance companies up to $2 billion. 2020, following protests against the death of George Floyd, who died May 25 after he was . GRAND RAPIDS, Mich. (WOOD) Grand Rapids has updated preliminary estimates for what the downtown riot on May 30 and 31 cost the city, now putting the total . In 2020 dollar terms that would have been a roughly $1.42 billion insurance market loss. 1. Even worse, economic research suggests that the areas afflicted will suffer from the damage inflicted by rioters for years to come. Axios published this visual: Property Claim Services (PCS) tracks insurance claims. By . The 1992 Los Angeles riots cost the insurance industry alone $775 million at the time, or around $1.4 billion adjusted for inflation. Five days after violent protests hit downtown Atlanta, there's still no estimate of financial losses from the property damage and looting that dozens of businesses sustained . 5 million in damage during . The damage to state-owned or leased buildings over the weekend cost $20,000 in materials and labor just to board up and secure the buildings, said Caleb Buhs, a spokesman for the Department of . Owners and insurance experts estimate the costs of the damage could exceed $500 million. Why it matters: The protests that took place in 140 . . Insurance . From the beginning, it was obvious . Posted: Aug 04, 2020 12:01 AM. BLACK Lives Matter protests and "riots" after the death of George Floyd did as much as $2billion worth of damage. Early estimates from insurance agencies say the cost of this summer's rioting will set a record surpassing that of the 1992 Rodney King riots, which cost an inflation-adjusted $1.2 billion. Riot police march as they try to disperse protesters in Portland, Oregon on November 4, 2020, during a demonstration called by the "Black Lives Matter" movement, a day after the US Presidential . Stacey . Property damage. . The costs have amounted to the costliest period of civil unrest in insurance . By Michael Austin September 19, 2020 at 12:52pm. The media's continued silence on the mayhem and tacit approval of it since it first began has been absolutely disgraceful. but rioters took advantage of the momentum to damage local businesses. Since the death of George Floyd in late May, riots have plagued major cities across the country. The Capitol riot was VERY BAD, and everyone condemns it. The cost of repairing damages from the attack on the U.S. Capitol and related security expenses have already topped $30 million and will keep rising, Architect of the Capitol J. Brett Blanton told . The 1992 riots, which followed the acquittal of four police officers in the beating of Rodney King, cost $1.4 billion in 2020 dollars, according to the report, which did not give a specific damage . Lincoln Mall damage, May 31, 2020 Take a walk along Lincoln Mall on May 31 in the aftermath of rioting that caused nearly $3 million in estimated damages to buildings and prope DENVER (CBS4) - The City of Denver says $1,034,782 in damage was done during recent protests downtown. Summer riots and looting have cost upwards of $1 billion in damages . Of the estimated $483 million that it will cost to fund the ongoing National Guard deployment, $284 million will fund personnel and another $199 million will go toward operations, Kirby told . The costs of the Capitol attack, however, go well beyond the $1.5 million estimate prosecutors cited this week. Axios published this visual: Property Claim Services (PCS) tracks insurance claims. The Downtown Clevleand Alliance estimated that the cost of damage dealt on May 30 cost those businesses more than six million dollars. "However, with a total City budget of $5.6 billion (approved by City Council on June 17, 2020), these costs represent approximately 1/800th of our overall funding." New polling sheds light on just . Why it matters: The protests that took place in 140 U.S. cities this spring were mostly peaceful, but the arson, vandalism and looting that did occur will result in at least $1 billion to $2 billion of paid insurance claims eclipsing the record set in Los Angeles in 1992 after the acquittal of the police officers who brutalized Rodney King. Riots sparked by the police killing of George Floyd could cost insurance companies $1 billion to $2 billion possibly making them the most expensive in US history, an industry group says. In a 2004 paper, economists William J. Collins and Robert A. Margo noted that: Between 1964 and 1971, hundreds of riots erupted in American cities, resulting in large numbers of injuries, deaths, and arrests, as . The I-TEAM investigated the cost for city staffing and overtime from the weekend of the rioting. The Insurance Information Institute has compiled some shocking data. Tom Hauser (@thauserkstp) May 30, 2020 Now, a new assessment first reported by Axios shows the financial cost of the rioting is on its way to at least $2 billion, making it the most expensive . I've searched in vain for news about the riots' overall cost. While some peaceful protesters advocated for justice in the wake of George Floyd's death, violent agitators escalated dozens of these protests into violent riots, doing more than $23 million in damage to businesses in downtown Portland. Over 100 businesses suffered damage during the riot. But alongside the protests came riots at a great cost to some Black-owned businesses. "If people don't feel safe where their businesses are, then they don't feel a need to . Those riots only affected a single city, so the fact the rioting in recent days has affected more than 25 . (Courtesy of Andris B. Visockis) June 3, 2020. Additionally, $31,189 was spent on gas for NCSHP vehicles. 2020 4:06 PM ET. ($1.42 billion in 2020 dollars), which was set in 1992 by riots following the acquittal of police officers who were videotaped beating Rodney King. The origins of the riots were traced back to the landfall of Hurricane Velma during October 2019. But alongside the protests came riots at a great cost to some Black-owned businesses. As Seattle closes the door on a 2020 full of conflict, pain and racial reckoning, the protests have spurred changes, both tangible and intangible, that will affect policing and politics. But, dismissing 2020's riots as "just burning small businesses" and "totally different" is dishonest.