Monday, 25 August 2014

Cuts to riot damage payouts may deter firms from areas like Tottenham MP

Government plans to reform the 1886 Riot Damages Act after the Tottenham riots could lead to higher premiums, say insurers

Government plans to reform the Riot Damages Act could result in a huge fall in payouts to business owners after any future unrest and would leave most drivers unable to claim compensation, the insurance industry has claimed.

On the eve of the third anniversary of the outbreak of rioting in Tottenham, north London, the Association of British Insurers (ABI) said that had the planned changes to compensation been in place in 2011 only £1 would have been paid out for every £10 worth of damage.

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