Data breach coverage offers protection for costs associated with the accidental exposure of sensitive customer data due to occurrences such as hacking, theft, and the accidental release of data. This coverage will help to cover costs involved with the notification of customers and government authorities of a potential data breach, as well as legal liability costs to protect against claims from victims.
The timing of when you choose to report an incident to your insurance carrier has a direct effect on the bottom line. This case study demonstrates how prompt claims reporting was key to recouping this property loss quickly and efficiently. (more…)
When it comes to fires, the best offense is a good defense. Here are some precautionary practices to help businesses safeguard their restaurants and bars against fires: (more…)
Society Insurance is a servicing carrier in the Wisconsin Workers Compensation Insurance Pool. As such, we see extreme cases and injuries. We treat these businesses just like every other Society policyholder. This case study provides strong evidence for the importance of prompt claims reporting. (more…)
Businesses in the hospitality industry (bars, restaurants, hotels) provide a fun and relaxed atmosphere for clientele to briefly escape their everyday routines. While these establishments look for ways to distinguish themselves from the competition, they often share one common feature: a bar. Alcohol service, the commercial sale of alcohol, creates unique risks and exposures which business owners must not only address by having specific guidelines in place; they must also strictly enforce.
The Problem (more…)
Recently we made a visit to Vern’s Cheese, a 3-generation family-owned business in Chilton, Wis. and had an opportunity to spend some time with Vern Knoepsel, President/Co-owner 1st generation; Edith Knoepsel, Co-owner 1st generation; and Kelly Knoepsel-Kress, Co-owner 2nd generation. We enjoyed learning more about their company history and why they have trusted Society Insurance to protect their business since the very beginning in 1964. Watch to learn more about the small details that have made a big difference for their business over the past 52 years. (more…)
It’s hard to pick up a magazine these days without reading about the importance of “going green.” We see it in public interest stories, government stimulus programs, and building requirements for the use of renewable products and energy-efficient equipment.
Many business owners are actively involved in green initiatives and practice sustainability in their operations. This may include upgrading to more energy-efficient equipment, stricter recycling programs, resource conservation, improving building efficiencies and more. In addition to the environmental impact, these efforts can increase bottom-line revenue and enhance employee morale and contribution.
The environmental and financial rewards of improving energy conservation and sustainability make it worth a business owner’s time to make sure (more…)
Restaurants, bars and taverns can be targets for robbery, burglary and theft. These businesses may accumulate a large amount of cash during daily operations, which makes them attractive targets for criminal activity.
- Armed Robbery. Do you know when your business is most vulnerable?
- Employee Theft. Do you know that this is the most frequent criminal event in a restaurant?
- Violent Incidents. Do you know how staff should respond?
- Burglary. Do you know how to deter burglars?
There are complicated issues and potential gaps in coverage when dealing with leases. Do you know that a lease may require the tenant to provide insurance for the landlord’s building, contents, betterments and improvements if necessary? Consider these examples where the lease requires the tenant to be responsible for the building items: (more…)
A common mistake an employer can make is to buy workers compensation insurance in one state while having employees working and/or living in another state. This creates a liability exposure in which the policy you purchased may not have coverage for claims generated by these employees.
One reason for this potential gap in coverage is that an employee is entitled to select the jurisdiction they wish to file their claims based on these three basic principles: (more…)