Assault on U.S. Capitol a Spark, but No Catastrophic Property Losses Yet
Commercial property insurers who are already edgy after suffering historic losses from civil unrest got another jolt Wednesday when pro-Trump protestors smashed windows to gain entry into the U.S. Capitol.
But there’s “a lot of mileage” between the Washington D.C. protest and the kind of widespread rioting that erupted after the police killing of George Floyd in Minneapolis, which caused more than $2 billion in projected damages, said Thomas R. Johansmeyer, leader of Verisk’s Property Claims Services.
Catastrophe-level property losses from rioting aren’t likely unless the protests move far beyond government buildings. Johansmeyer said a bond fire needs a gale-force wind to become a conflagration even if has plenty of fuel to burn.
An explosion was heard around Harrisonburg this morning on S. Main St. Three people were hospitalized and the scene is currently being investigated.Â
Where once stood Element Vapors, Halal Market and Sweets, Naza Salon & Barber Shop, Hometown Music and Blue Sprocket, dominates a mountain of jagged rubble.Â
A chain-link fence guards an already devastated space. It keeps out owners like Salwa Mahdi. As the manager of Naza Salon, she woke that morning to a phone call about smoke near her building and an earlier text from her co-worker: âI smell bad gas, Iâm going to call emergency.â After sending it, he was one of the injured.
Pinner Construction, In Lawsuit Against Arch Insurance Manager, Alleges Manager Committed Fraud After Arch Denied Performance Bond Coverage
Pinner also made allegations of another possible fraud by Arch, claiming that the apparent owner of Pinner s insured subcontractor said Arch told him to lie to Pinner about his status as the indemnitor of an Arch insurance policy
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ANAHEIM, Calif., Dec. 10, 2020 /PRNewswire/ Pinner Construction, a leading public building construction company based in Anaheim, California, has sued an Arch Insurance Company manager for allegedly fraudulent representations concerning Pinner s right to bring in substitute subcontractors to complete the HVAC-plumbing work after the subcontractor on which Arch underwrote a performance bond allegedly walked off the job.