Toms Blog

As a business owner, you value your business investment, as well as your employees. After all, your employees are the backbone of your business and shouldn’t they be protected? In North Carolina, if an employee gets injured or sick as a result of work related activities, then that employee is entitled to workers’ compensation benefits, but do you know the N.C. Workers’ Compensation requirements? Who Qualifies as an Employee? The Workers’ Compensation Act of N.C. states that if your business employs 3 or more people then you must carry workers’ compensation insurance for your employees, but which people qualify as an “employee?” Below are some of the definitions of “employee”, but not limited to: Each [...]

Today, more and more people are operating businesses out of their own homes and while that sounds modern and convenient, it won’t be if an unexpected accident happens and you lack the right type of insurance needed. Many people don’t realize that their standard N.C. homeowners insurance policy provides limited coverage for their home-based business, so you need to find out whether you need insurance for your home-based business. Accidents Happen Imagine that you run a personal training business out of your home and one of your long-standing clients is at your home working out and injures his back performing an exercise. With no history of back issues, your client is now claiming he got [...]

When you travel on the highways and see motor carriers, you may only consider the transporting of goods from one location to another; however, there are many insurance issues going on right now involving the required minimum insurance limits. Present insurance limits were set in the mid-1980s, and in the last few years, groups have claimed the current minimum insurance limits are too low to cover the costs of today’s crashes; however, The Federal Motor Carrier Safety Administration (FMCSA) has officially stated the proposed minimum liability limits increase has been withdrawn, citing that a lack of information/sufficient data was not provided to back up a need for an increase. The FMCSA did a study that [...]

As a storeowner, you have to juggle a lot of tasks on a daily basis and protecting your livelihood is right there at the top of your priorities. As you know, you have to be prepared to handle any unexpected mishaps that can and will occur, so while you know your business can be risky, you can minimize financial risks to protect your unique investment by being aware of the most common risks storeowners face. Can You Afford for This to Happen? Imagine getting a phone call at night stating that your store is up in flames, your building and entire inventory is destroyed, and now you can’t deliver promised goods to your customers. This [...]