Insurers balk at covering Portland businesses; brokers say downtown upheaval has made carriers wary

 Insurers balk at covering Portland businesses; brokers say downtown upheaval has made carriers wary

https://www.oregonlive.com/business/2020/12/insurers-balk-at-covering-portland-businesses-brokers-say-downtown-upheaval-has-made-carriers-wary.html

Gee, who cudda anticipated this happening? Last time I checked, insurance companies are in business to make money, and they do so by managing risk.  When there's some kind of stable situation and history they can evaluate risk and come up with a financial model that says how much they must charge the clients to cover the likely payouts and still have money left over, known as profit. When the situation is chaotic and goes into high risk or risk impossible to really evaluate, then they cannot offer coverage since it means no certainly of profit and a likelihood of loss.  Duhh... Four months of rioting and apparently the creation of a culture of theft, looting, and vandalization for fun since the cops aren't stopping anyone sure would keep me from offering insurance to anyone in the area.  Not until somehow the situation changes a lot, and real law and order are restored and the people doing the stealing and damage are in jail and everyone else is very seriously discouraged from such activities. This is very, very rough on the business people, but if I were one of them I'd be asking why in hell I'm paying taxes to the city and not getting any basic service, like protection of my business.  And maybe I'd be making donations to different people running for office.  As Jefferson said, in a democracy you get the government you deserve, and if you have elected and keep electing utter incompetents, this is what happens. --Del