Yearly Archives: 2025

You Did It! NYC Anti-Arson Repeal Bill Headed to Gov. Hochul!

Abstract: In politics, persistence and perseverance pay off. Today, the State Senate followed the lead of the Assembly and passed legislation repealing the NYC “Anti-Arson” application! Big I New York will urge Governor Hochul to act quickly on this important insurance industry reform. Body: ​In politics, persistence and perseverance pay off.  Today, the State Senate followed the lead of the Assembly and passed legislation repealing the NYC “Anti-Arson" application!  Big I New York will urge Governor Hochul to act quickly on this important insurance industry reform. Despite this relic from the 1980's having long outlived its usefulness, the bill remained stuck in the State Senate, allegedly…

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Do Liability Insurance Policies Cover Repair Cost PLUS Diminished Value?

Abstract: No. Body: ​One question that comes in from time to time is whether a liability insurance policy (either personal, commercial general, or auto) must cover the loss in value of damaged property in addition to the cost of repairs. This comes up a lot with high-end cars, such as the Ferraris, Corvettes, and Maseratis of the world. The car gets hit by an at-fault driver. The car's owner sees the resale value of the car plummeting and wants the other driver to pay for that. So, does the at-fault driver (and therefore the driver's insurance company) have to cover that loss of value?No.The courts…

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GIVE Movement: June 1st – 10th

Abstract: Support Our Industry, Serve Our Communities: The insurance industry was built on one powerful idea: coming together to protect and support one another. That’s the spirit behind the GIVE Movement, and we’re inviting you—and your agency—to be part of it. Body: Support Our Industry, Serve Our Communities: The insurance industry was built on one powerful idea: coming together to protect and support one another. That’s the spirit behind the GIVE Movement, and we’re inviting you - and your agency - to be part of it.What Is the GIVE Movement?: Led by the Big “I” National Young Agents Committee (YAC), the GIVE Movement is a week-long…

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