The rioting & looting that has gripped the country has without a doubt had severe financial consequences for numerous businesses and communities, which will surely see an escalation in insurance claims as a result.
However, it may not just be left to insurance companies to help those who have been affected in such a way. Under s2 of the Riot (Damages) Act 1886, people who have had property damaged during a riot are entitled to reclaim damages from their local Police Force.
Therefore, it could be argued that this in turn could fuel further trouble, by creating further strain on many forces that are already facing the prospect of further cuts whilst operating on depleted resources.
Additionally, those who have been injured by rioters may well have course to claim damages from the Criminal Injuries Compensation Authority (CICA). Such claims must proceed within 2 years of the event to be successful and, in my experience, are difficult to prove. For more information on this visit:
Although many companies are continuing to count the cost of the riots, it could be that a number of firms, particularly in London, could capitalise on this opportunity and boost their revenue stream at a time when the industry is stagnating and besieged by fears of a double dip recession.