“Hope for the best, plan for the worst.”
When starting a business, there’s plenty to think about: filing the proper permit applications, setting up a website, getting the word out to potential customers or clients. You might not be thinking about the unfortunate or unexpected circumstances that could strike when operating a business. That’s where insurance comes in.
Tagrisk has been providing unique insurance programs to the restaurant, bar and nightclub space since 1985. They work with a variety of hospitality concepts, from small mom-and-pop shops to larger restaurants that can be found across the U.S.
Executive Vice President Larry Anaya has been insuring businesses for more than 30 years. He recently spoke with What Now Media Group about the importance of insurance and what makes Tagrisk unique in what it provides.
How would you describe Tagrisk and its mission?Â
As market leaders in hospitality insurance for restaurants, bars and nightclubs, we curate your small business insurance to provide the best coverage and value-oriented solutions. For over 35 years, we have specialized in all areas of hospitality from general liability to workers’ compensation, eliminating coverage gaps and protecting you with top hospitality insurance carriers.
What is the most rewarding part for you about working with the hospitality industry?Â
We have so many long-standing relationships with our clients, and we take pride in that we can offer a level of customer service that most other companies cannot provide. Some customers we’ve had for 20-plus years.
One example: I had a location explode in the middle of the night and damage the neighboring businesses, left and right. I insured all three of them. I had to make sure we protected all three in the same way. Years later, I still insured them because we had everything in place and the understanding of what could go right and what could go wrong. It was rewarding to be able to make sure that they weren’t destitute following those losses.
What is a service that Tagrisk provides that has a big impact but can be initially undervalued or overlooked?
Tagrisk Insurance Services provides an exceptional level of customer service. We set the bar on innovative and curated insurance plans. We make sure businesses are covered where other insurance companies leave gaps in policies. My old boss long ago used to tell me that we’re specialized. If you had a heart problem, are you going to go to a specialist or a general practitioner?
What is a core value that you bring to each client relationship?
Integrity. We are accessible 24/7 to help our clients navigate through those critical moments when an incident occurs. We partner with businesses to provide honest advice, ultimately to protect their restaurant for continued success. We’ve got to be people of our word and do what we intend to do. I’m always available for the conversation and having the tough talks, making sure that people are in a good place. We want to protect them.
We exist because we’ve been able to save people money. For the most part, we tend to save customers 20 to 40 percent of their cost. We saved Blaze Pizza $85,000. For the most part, people are going to save money by giving us a shot, and restaurants are a tough industry for margins.
What do you think is the biggest challenge the hospitality industry is facing right now?Â
We understand that restaurants have incurred price increases for their cost of goods. That’s why now is a great time to evaluate their current insurance policies, to see where we can help people save money.
To connect with Tagrisk, click here.
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What Now Media Group shares daily restaurant news in 31 U.S. cities and counting, but we’re also dedicated to the continued support of brands as they grow in this busy market. We pride ourselves in knowing the best in the business when it comes to restaurant industry experts. Whether you’re opening a new restaurant or growing an existing one to multiple locations, What Now’s Preferred Partners can help you every step of the way.Â
