Insurance Programs

"Helping you Anticipate and Avoid Risks"

The Town is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omissions; injuries to employees; and natural disasters. The Town protects itself from potential loss through a combination of the purchase of commercial insurance for general liability, automobile liability, public officials’ liability, law enforcement liability, crime, cyber liability, and property losses. Through these commercial insurance policies and programs, the Town maintains insurance coverage at various limits with specified deductibles for each policy area. Some of these limits of insurance include; $2,000,000 for comprehensive general liability with excess liability coverage in the amount of $10,000,000, and $1,000,000 for automobile liability with $500,000 uninsured motorist, and $1,000,000 for crime, law enforcement liability, cyber liability, public officials and employment liability. The Town is insure for property damages with replacement cost coverage for all scheduled properties with a $10,000.00 deductible and a $1,000.00 deductible under Fine Arts.

The Town is insured for worker’s compensation and employers’ liability through participation in the North Carolina Interlocal Risk Management Pool Agency (IRMA) with the North Carolina League of Municipalities. The Town's potential loss related to workers' compensation is limited to the deductible amount of $5,000 per occurrence. Specific information related to the IRMA or the Board of Trustees can be obtained by contacting the Risk Management Services Department of the NC League of Municipalities. The risk pools are audited annual by certified public accountants, and the audited financial statements are available to the Town upon request. For information related to reporting of claims or incidents, please see Claims Reporting and Management. Should you have a question regarding a specific area of insurance for the Town, please contact the Office of Risk Management at 919-968-2748.