Tag Archives: policy

Amendments to the Wisconsin Worker’s Compensation Act (2016)

Several bills pertaining to Wisconsin Workers Compensation were signed into law in 2016. It is important that we understand how these changes may affect us and also, how we may adjust our internal processes to best position ourselves for success. A couple of the new changes are detailed below. This is conveyed for informational purposes only and is not to be considered legal advice. If you have any questions as to how this may affect an individual business entity, consult with your Human Resources expert or other legal counsel. (more…)

Society Insurance & Vern’s Cheese: Working Together for Over 50 Years

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…)

Is Your Outdoor Property Protected?

Most businessowners policies protect outdoor property with a standard limit of $2,500 for five specific perils: fire, lightning, explosion, riot or civil commotion, and aircraft. While this offers some protection for your outdoor investments, how likely are these events to occur? And if they do, will $2,500 be enough to cover your loss(es) associated with outdoor fences, antennas, light poles, signs not attached to buildings, and tree and shrub damage, including debris removal?

Consider these common claims situations not covered by a typical policy: (more…)

Protecting Your Business from Costly Data Breach Damage (4/4)

This entry is part 13 of 26 in the series Data Security

Data breach is the exposure of sensitive customer information due to hacking, theft or the accidental release of data. Business owners are expected to be custodians of customer information and have a reasonable expectation to protect their customers’ data. A privacy breach is impactful for all businesses, but it can be devastating for a small business without the resources of a larger corporation. In this four-part blog series, we share the top three data breach myths, eight tips to prevent data breach, how to react to a data breach, and how to protect your business from costly data breach damage.

For 20 days in late 2013, Target Corporation experienced one of the largest data breaches in American history. Hacked information included some 70 million customer names and 40 million credit and debit card numbers including the short verification codes on the back of compromised cards. In addition to forcing the retail giant to book a reported $61 million in direct costs related to the breach, it also scared customers away from shopping at their stores – which resulted in a 46% drop in net profit during the holiday quarter. Although the exact full costs of the breach are not yet known, security analysts have pegged the costs at upwards of $400 million.

A data breach can be even more impactful for a small business and cause irreparable harm to your company’s reputation. The cost of even a small breach can be wildly expensive. Typical costs can include: (more…)