I read in the newspaper this morning that Target is the latest victim of data breach. Apparently 40 million credit cards were comprised on black Friday. Fortunately, the CEO has released a statement that the issue has been resolved.
"We see breaches across all sizes of companies", said Michael Donovan, a Global Focus Group Leader for Beazley Breach Response. He goes onto to say, "You see the stories about the big ones in the news, but breaches are affecting companies all across the board".
The bottom line is, data breach is going to happen. As we have seen and heard from the experts, no company, large or small, is immune to it. We simply cannot prevent it, but what we can do is be prepared for when there is an attack. Adding data breach coverage is as easy as adding an endorsement to your current insurance policy in some cases. Call your agent or call us, if you have any questions or would like more information. Travelers and The Hartford have some really good products when it comes to cyber liability and data breach.
To read more about the Target data breach, you can click here.
You're still not required to carry Workers Compensation in Texas (although we recommend it), the following changes were made recently:
In addition to providing notices at the time of termination, an employer without coverage must: (1) file Notice of No Coverage with DWC annually between Feb. 1 and April 30 of each calendar year; (2) post notice of no coverage in the workplace; (3) notify each newly-hired employee at the time of hire; and (4) report work-related injuries involving absence from work for more than one day (applicable only to employers with five or more employees).
The form used to notify TDI can be found below. You can also access the form by going to TDI's website by clicking here.