Toms Blog

Difference Between Occurrence Versus Claims-Made Insurance As a business owner, you know the importance of having the right business insurance protection, but understanding the different types of insurance can be confusing. Before you invest in any type of business insurance protection, it is essential to know the difference between occurrence and claims-made insurance so you can get the type of insurance that best suits your business needs at an affordable rate. What Are Your Business Needs? Each business is different, so the type of insurance that best suits your needs may differ from the next business owner. Some of the biggest distinctions between claims-made insurance and occurrence-based insurance include, but are not limited to: With [...]

Is Your Non-Profit Organization Protected with Directors and Officers Insurance? Being asked to serve as a board member for any non-profit organization may seem like an honor and a privilege; however, there is more to your role than assisting in making executive decisions and facilitating organizational success and growth. One essential step before agreeing to serve as a board member is to research whether that non-profit has Directors and Officers (D&O) Insurance. If it doesn’t, you may want to reconsider to avoid any legal challenges you could face without insurance protection. Is your non-profit organization protected with Directors and Officers insurance? Directors and Officers (D&O) Insurance D&O insurance is designed to protect directors, officers, and [...]

Restaurant Insurance Needs for Your N.C. Business  Restaurant owners face numerous responsibilities, all while striving to create an inviting atmosphere with outstanding food and exceptional customer service. However, disaster can strike at any moment, potentially destroying everything you have worked so hard to build. Without proper insurance protection, you could face financial ruin. Assessing your restaurant insurance needs for your N.C. business is essential to obtaining the necessary protection you deserve. There are “one size fits all” insurance policies available, often promising coverage at an enticingly low price. However, such coverage may not be tailored to your specific needs or risk factors, leaving gaps in your protection. You don’t want to discover that your insurance [...]

  Price Isn’t the Only Factor When Choosing Your N.C. Business Insurance  As a business owner, you must prioritize day-to-day operations, assess potential risks that could threaten your business, and minimize those risks by investing in the right type of insurance protection.  While it may sound easy enough, there are many factors to consider when purchasing business insurance for your livelihood.  While price may be an initial concern, it should not be the only factor when choosing your N.C. business insurance.  Business Insurance Shouldn’t be One Dimensional  While many business insurers claim to offer the best price, will it provide adequate protection when a catastrophic incident happens, or will you be subject to holes in [...]