Monday, 8 August 2011
London ratepayers, not insurers, will pay for damage
I've posted this before yet asinine MSM reporters continue to make statements on air such as 'leaving businesses with a big bill'. So any journalists reading please pay close attention. Look at your insurance policy; go the exclusions and find the word that occurs between 'radioactivity' and 'terrorism'. Yep. Riot. All that damage - if caused by 12 or more persons in a group acting in common purpose - is riot damage and excluded from all insurance policies. So who pays? The taxpayer does. Under the Riot and Damages Act of 1886, claims (in London) are met in the first instance by the Met police - and are then reclaimed from council tax payers by an increase in the police precept. Except Council taxes have been pegged - so now something will have to close to pay for it, like a leisure centre or a community youth project - with the site probably sold to a commercial developer. And these monkeys think they're smart.