Tuesday, May 15, 2012

Actual Cash Value vs. Replacement Cost

A recent article by PropertyCasualty360.com looked at the confusion that can be caused by the standard replacement-cost provisions on Commercial Property forms.  The article explores how the Commercial Property forms can offer the insured the option to accept settlement on an ACV basis, but the insured can later decide to receive the replacement cost amount.

Take the time to review this article.  ACV vs. Replacement Cost issues are nothing new, and knowing how to professionally handle questions is what separates the independent agent from an 800#.


Actual Cash Value vs. Replacement Cost: Navigating the Policy

Monday, May 7, 2012

Happy Anniversary Jimcor!

Happy Anniversary Jimcor Agencies!

May 3, 2012 marks Jimcor's 26th anniversary.  In honor of the Mastowski's first putting the sign on the door 26 years ago, let's take a look at headlines from that May weekend in 1986!

·      Frank and Ellen Mastowski opened the doors to Jimcor Agencies on Sullivan St., Westwood, NJ


·    American Top 40 with Casey Kasem released a compilation of songs whose track list included “Kiss” by  Prince and the Revolution, “Addicted to Love” by Robert Palmer and Janet Jackson’s hit “What Have You Done for me Lately!”


·         Senate proposes first budget over $1 trillion


·         Crude oil is at $14.73 per barrel


·         Mike Tyson goes for 20-0 record at the age of 19


·         According to results of the Gallup Poll in 1985, fishing is the second most popular leisure activity in America


·         Dow Jones indicator closes Friday at 1,774.68


·         Britain’s Prince Charles and Princess Diana travel to Vancouver to open Expo ’86 in hopes for an economic and spiritual renewal for British Columbia