From MSN:
Insurers balk at covering Portland businesses; brokers say downtown upheaval has made carriers wary
Eric Murfitt watched helplessly from a live security feed as looters trashed his downtown clothing store, Mercantile, during a riot on May 30. Murfitt said the business suffered $1 million in losses due to the break-in and had to file an insurance claim to stay afloat.
But in November, Murfitt was informed that his insurance carrier would not be renewing the store’s policy. Nearly a dozen other insurance companies declined to even offer Mercantile a quote.
So earlier this month, Murfitt settled for a policy that nearly quadrupled his premium, had a significantly higher deductible, included a much smaller cap on coverage related to robbery and excluded any property damage related to civil unrest.
“We’re effectively uninsured right now,” Murfitt said. “And we’re paying four times as much for the privilege.”
Meanwhile, Target, Amazon, Walmart are posting record profits. They are targeting the little guy. They want us dependent on the state for everything.
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