Seattle facing liability risks and decreased insurance coverage

3,376 Views | 28 Replies | Last: 4 yr ago by Saltwater Assassin
C@LAg
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Sine poena nulla lex.
azul_rain
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Why are you awake ? Why am I awake ?
C@LAg
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Sine poena nulla lex.
nortex97
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AG
Sigh...still having to use the feds to actually charge the rioters.

https://www.seattlepi.com/news/article/Another-protester-charged-with-torching-Seattle-15554548.php

But at least they're using cell phone geolocation data to help the prosecutions;

Quote:

Investigators said they received an anonymous tip identifying Jackson as a suspect, and that video recordings showed him wearing a distinctive sweatshirt and gas mask as he threw Molotov cocktails in or at two police vehicles on May 30. According to the criminal complaint, federal agents later observed him wearing the same sweatshirt as the arsonist in the video, and that cell phone location data placed him in the location of the arsons.

Screenshots in the photo library on his phone included information about the protest and a recipe for Molotov cocktails, the FBI said.
Gilligan
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AG
hedge said:

Why are you awake ? Why am I awake ?
Hedge,

Quality sleep is important. Especially if your working full time and studying. Not trying to give you a hard time, but pointing out the obvious.

You may have a TexAgs and / or f16 addiction you need to break...

Take care of yourself...

~G
azul_rain
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i started prozac and i cant sleep
Tu Lucha Es Mi Lucha
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Have your mother make you some warm chamomile tea. Should help you sleep.
Decay
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AG
Love the "anonymous tips" that they're getting. I'd imagine a lot of people are willing to snitch to get this crap under control.
pfo
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AG
Seattle is in the decaying city cycle where they increase taxes on the rich to pay for liberal mismanagement and they drive away their tax base. We've all seen this story many times before.
Tex100
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AG
I was in the market for muni bonds, the west and east coast would not be on my list.
ABATTBQ11
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AG
Saw this coming. Been wondering when this would happen, though I figured they'd be jacking up rates on businesses and individuals as well in order to raise the pressure on the city. If I were their insurers, I'd cancel and tell them to **** right off. Or, deny any claims as a result of their policing policy and tell them I don't cover damages in third world ****holes.
Signel
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AG
"The city isn't in dire straits yet, but its problems are multiplying."

Oh, they are in dire straits... Sales tax almost non-existent due to businesses being shut down. Income tax gone because no one is working. Businesses are leaving and will stop paying utilities, rent, tax, power, insurance.

This is compounded over time as the dominos fall. It is going to take a very long time until these big cities hit equilibrium, and after the dust settles, the states and cities that didn't crap in their own bed will be on top.

I don't think most understand how state and local government work (or disfunction depending on the party leadership.)

Ag87H2O
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AG
"As a summer dominated by street demonstrations against racism and police brutality winds down, more than 40 legal claims have piled up against Seattle for its handling of the protests.

Kind of like letting your house catch on fire 40 times and then expecting to be able to get an insurer to write a homeowner's policy. Even if you manage to find a company that will write a policy, it's going to be expensive.

Insuring Seattle has become a bad risk. They 100% brought it on themselves.
BuddysBud
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AG
According to CNN and some of resident CM's, insurance would pay for all the damages. What do you mean that insurance companies would drop policies and raise rates if the risk caused by Democrat lead riots becomes too great? How dare these companies to analyze their risk and try to control their potential liabilities!
cbr
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AG
Do they really not understand what they've done? It hasnt even hit yet. But it is inevitable.

Downtown Seattle is damned near uninsurable now. And there will certainly be total exclusion of any kind of vandalism/fire/riot damage, period.

No insurance = No loans. No Insurance = no leases. No loans and no leases means - bankruptcy, and then:

Downtown Seattle prices have to come down to cash-buyer-minimal occupancy level - and then price down the risk premium.

That could be an 80% decline in real estate prices in some areas.... with vast areas just blight. And all that means NO TAX BASE.

Their economy is destroyed.


titan
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S

This is funny. They should send all the bills to the Democratic Party of Washington State. And sell the property of the mayor and the members of the council to help meet the obligations.
FrioAg 00:
Leftist Democrats "have completely overplayed the Racism accusation. Honestly my first reaction when I hear it today is to assume bad intentions by the accuser, not the accused."
Gilligan
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AG


Kelly Thomas Jackson - 20 years old and a Felon.

I hope it was worth it?
Gilligan
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AG
Decay said:

Love the "anonymous tips" that they're getting. I'd imagine a lot of people are willing to snitch to get this crap under control.
A parent or a sibling maybe...
ABATTBQ11
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AG
Seattle is 1970's Detroit
W
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that's the kicker. The insurance companies will still offer a policy to the city, but it will have so many exclusions it covers nothing related to rioting, civil unrest, police action, legal costs, etc..,

and the city will drop the insurer on its own
Secolobo
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AG
...hoping Biden bails them out.
Bulldog73
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AG
Quote:

The city isn't in dire straits yet, but its problems are multiplying.
I disagree with the bolded section. Dire straits is in Seattle's rear view mirror. Circling the drain demanding nonwoke taxpayers bail its sorry ass out is probably more accurate at this point.
DallasAg 94
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fasthorse05
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And now y'all know why Pelosi and the other grifters have been denying the last "stimulus" bill. They're counting on all of the extra crap written in to fund the cities like Seattle, and pull them out of the fire the Dems started.

I know there's a new stimulus bill written by the Reps, without all the BS included. When it comes up for vote, it will be more difficult for the Dems to crap on it, but I'm sure they will.
chimpanzee
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Signel said:

"The city isn't in dire straits yet, but its problems are multiplying."

Oh, they are in dire straits... Sales tax almost non-existent due to businesses being shut down. Income tax gone because no one is working. Businesses are leaving and will stop paying utilities, rent, tax, power, insurance.

This is compounded over time as the dominos fall. It is going to take a very long time until these big cities hit equilibrium, and after the dust settles, the states and cities that didn't crap in their own bed will be on top.

I don't think most understand how state and local government work (or disfunction depending on the party leadership.)


Increasing costs to be paid by fewer and less well-off people. It's called a death spiral, or "democratic socialism" if you prefer.
Signel
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AG
W said:

that's the kicker. The insurance companies will still offer a policy to the city, but it will have so many exclusions it covers nothing related to rioting, civil unrest, police action, legal costs, etc..,

and the city will drop the insurer on its own
This... And all the businesses won't be able to obtain coverage that does any good to offset the loss. Why would a business stay in a city where the Council defunds the police force that protects them?

Reminds me of all the black business owners that had it written on their storefront "BLACK OWNED" and it still burned. You can't reason with terrorists.
ThunderCougarFalconBird
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AG
Businesses will be able to get policies but the premiums will be off the charts.
nortex97
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blindey said:

Businesses will be able to get policies but the premiums will be off the charts.
Which will drive rents down, which will drive property values down, which will drive down the appearance of the area, which will...eventually lead to a ghetto.

But socialism/marxism. "Real sticking your face in a sack full of badgers has never been tried."

(I stole that from babylon Bee today).
Ag4coal
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Insurers are petrified in general right now. The average joe blow doing all he can to mitigate risk and has zero losses are getting hit with increases right now. I can only imagine what it must be like for a city who flat out refuses to manage risk at all. Insurers are trying to make money, not pay for your political statement.

I'm sure the exclusions that get wrapped into their renewal will essentially make their policy a very, very expensive stack of papers. Surplus lines can do damn near anything they want, and they will here for sure.
Saltwater Assassin
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AG
cbr said:

Do they really not understand what they've done? It hasnt even hit yet. But it is inevitable.

Downtown Seattle is damned near uninsurable now. And there will certainly be total exclusion of any kind of vandalism/fire/riot damage, period.

No insurance = No loans. No Insurance = no leases. No loans and no leases means - bankruptcy, and then:

Downtown Seattle prices have to come down to cash-buyer-minimal occupancy level - and then price down the risk premium.

That could be an 80% decline in real estate prices in some areas.... with vast areas just blight. And all that means NO TAX BASE.

Their economy is destroyed.





You are dead on right

& when it happens they will blame trump, and the media will back up the lie.

I feel like I'm taking crazy pills
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