by David and Tracy Bell | Oct 9, 2024
Our subsidiary, PayGo Plus LLC provides program administration for DB Staff Pro, Inc. under the product name Staff Pro Plus.
Many small businesses and entrepreneurs need support that gives a piece of mind and lowers costs as compared to assigned risk alternatives.
StaffPro Plus* does that and much more.
Sign your small employer-clients up for this subscription-based service to:
*Find support staff for temporary projects
*Ensure proper employment forms are completed
*Pay wages & provide benefits
*Obtain Worker’s Comp Certificates of Insurance
*Report wages under our staffing company’s FEIN
*Focus on building the business
*Give StaffPro the office administration responsibility & risk
*Leverage our HR Consulting Platform
by David and Tracy Bell | Oct 8, 2024
To all valued brokers and partners,
As of October 15, 2024, Syndicated Resource Group Holdings, Inc. (SRGH) will be implementing changes to the terms of our Broker Agreement. This update is part of our ongoing commitment to provide the best possible service while ensuring that our business operations remain fully compliant with regulatory standards and industry best practices.
Why Are We Updating the Agreement?
As the regulatory environment continues to evolve, SRGH is committed to adapting and ensuring we operate within the scope of all relevant regulations in the states we serve. The updated agreement reflects these adjustments, along with clarifications to key areas of compensation, arbitration, and compliance. We also aim to enhance clarity in the terms of service to better protect both SRGH and our brokers, while continuing to support a smooth and transparent business relationship.
Key Changes to the Agreement
- Compensation Structure
We have refined the language surrounding broker compensation. Commissions will now be posted monthly or as soon as administratively practicable following the receipt and calculation of payments from the relevant insurance carrier or administrative entity. This update ensures more streamlined payment processes while offering greater flexibility in posting commissions.
- Regulatory Compliance
Our new agreement emphasizes SRGH’s commitment to operating within the varying regulatory environments across the states in which we do business. The updated language clarifies that should any provision be deemed unenforceable or illegal in any state, the remainder of the agreement will continue in full effect.
- Arbitration Clause
To address potential disputes more efficiently, we’ve introduced an updated arbitration clause. All disputes arising from the Broker Agreement will now be resolved through binding arbitration in the state of Florida, ensuring a more expedient and cost-effective resolution process. This clause also prevents class actions, ensuring that all disputes are handled on an individual basis.
- General Terms & Clarifications
Additional adjustments to the agreement include improved clarity on severability, termination terms, and the overarching legal framework that governs the agreement. These changes are designed to enhance mutual understanding and minimize ambiguity in the enforcement of the agreement.
What Does This Mean for You?
If you are a current broker with SRGH, the updated agreement will automatically take effect on October 15, 2024. No immediate action is required from you at this time, but we encourage you to review the new terms in detail. You will receive the full, updated Broker Agreement via email, and it will also be available in your broker portal for easy access.
Next Steps
- Review the Updated Agreement: Please ensure you are familiar with the new terms before the effective date.
- Contact Us: If you have any questions about the changes, or if you need clarification on any aspect of the new agreement, please do not hesitate to reach out to your SRGH representative or our broker support team.
Conclusion
We appreciate your continued partnership and trust in Syndicated Resource Group Holdings, Inc.. These updates are part of our efforts to better serve you and our clients by aligning our operations with the latest standards and practices in the insurance industry. We look forward to continuing our successful collaboration and remain committed to providing you with exceptional support and opportunities.
Thank you for your attention to this important update.
Sincerely,
Syndicated Resource Group Holdings, Inc.
Broker Relations Team
by David and Tracy Bell | Sep 11, 2024
Everyone who was alive at the time has a memory of 9/11. I had been in New York on business the weekend before, attending the grand opening of a client’s restaurant next to the World Trade Center, along with some colleagues. We also went to a Yankees game and enjoyed a beautiful Italian festival in Port Washington.
I had a ticket to return on 9/11, but as fate would have it, I had to rush back to Charlotte for business and flew out on 9/10. Many of my friends and family didn’t know I had returned early, so my phone was constantly ringing that day.
It feels strange to think about how close I was to the tragedy. While my experience is nothing compared to the immense loss and bravery witnessed that day, it truly changed me. I think it changed all of us. I hope our country never forgets how we felt that day.
by David and Tracy Bell | Jul 29, 2024
You’ve written your business plan, filed the appropriate paperwork, and set yourself up to manage your own business as an allied healthcare provider. You are accepting clients who pay for your specialty services from the get-go. You are well on your way to becoming a successful entrepreneur.
No matter what type of allied healthcare service you offer—from yoga instruction to massage therapy to social work—your focus is on creating, growing and expanding your business opportunities.
You keep reading all the lists to make sure you’re doing it right. Google has become your best friend as you research and absorb all the advice from the “Top Five Ways to Grow Your Business” to “Lessons for Independent Business Owners.”
There is so much to focus on when you run your own business, even if the only person on your payroll is you. Your checklist of things to accomplish is long. But you are confident and focused on creating a unique and genuine business model that is sure to succeed.
Your immediate reaction is to run out and find many clients as quickly as you can. At the same time, you need to create your website, print business cards, and find opportunities to market your services. As you seek opportunities to build your brand and customer base, you discover that you can offer your services by plugging in as a contractor through existing businesses.
Part-Time Opportunities Can Grow Your Client Base
There are many ways to grow your business opportunities as an independent contractor or small business with a handful of employees. Perhaps you’re a yoga instructor or massage therapist at your local gym two days a week. Or maybe you’re a nutritionist or life coach that provides counseling support one day per week at an existing clinic. You could be a licensed independent social worker working as a contractor at a senior living behavioral health center. You may create opportunities that connect your small team of employees with any of the part-time jobs.
Whatever the case may be, you’re on your own and experience the many freedoms of being your own boss. It is glorious to have the flexibility set your schedule and earn more money while you maintain a work-life balance. If you have a small team supporting you, you’re probably enjoying passing along work-life balance to them, too.
With the many freedoms you’re experiencing being your own boss, there is no reason you could fail. Or is there?
When you—or members of your small business—go work with other people you’re offering expert services to others. But no matter how carefully you or your team members work, there are risks that your business can encounter daily.
Liability Incidents Could Potentially Ruin Allied Healthcare Providers
Consider what could happen when you or your employees visit a client’s offices or use a third-party location for any business-related activity. Unexpected accidents, such as trips and falls, could result in unforeseen medical bills that you have to pay.
In today’s lawsuit happy society, you could find yourself needing an attorney because someone sues you for libel or slander. Without even trying, you could find yourself in uncertain situations which create unanticipated financial risks that could leave you bankrupt or at least in a world of hurt.
Most business owners are already aware of the hidden risks. So you shouldn’t be caught off guard when you are required to show proof of insurance to an existing business which you discuss offering your services.
Not convinced yet? There is proof in the numbers…
Small Business Disaster Facts & Numbers
You can have everything aligned for your allied health business to succeed. But, if you get sued or have to pay medical expenses, your business could unexpectedly close the doors. As an independent contractor or small business owner, here are some statistics to consider:
50% of small businesses survive five years or more (Source: Bureau of Labor Statistics 2016)
10% of small business claims come from customer slips and falls (Source: The Hartford)
22.2% of small business owners experienced a client complaint or dispute. (Source: Insureon’s 2016 Survey)
If that isn’t enough, Insurance Journal cited the following top most costly liability claims for small businesses: reputational harm ($50,000), customer injury or damage ($30,000), customer slip and fall ($20,000), and struck by an object ($10,000). They went on to share that 35 percent of all general liability claims results in a lawsuit.
So what should you do?
Get Peace of Mind With A Cost Effective Easy Solution
Don’t become another failed business statistic because you didn’t take steps to protect your business. Get a general liability insurance policy so when a lawsuit or unexpected medical claim arises, your hard earned money isn’t at risk.
The minimum cost for a general liability insurance policy can bring you peace of mind and potentially save your business from financial ruin.
Are you an independent contractor or small business owner that provides allied healthcare services? You can enroll online in about 3 minutes and receive a policy by email the same day you sign up. If you’re still not sure, learn more here.
Are you a broker who wants to offer general liability to your clients? Learn more or get a quick quote. You can even add the application on your website.
by David and Tracy Bell | Jul 1, 2024
Imagine that you’re a prospective customer who needs workers’ comp insurance.
You’re searching Google looking for an insurance agent that offers the types of policies and services you need for your business.
You find several agents that look like they may have what you’re looking for, and you send each one the same email with a request.
The Story of Three Agents
Warm Welcome. One agent responds to your email inquiry immediately with a reply. He warmly thanks you for reaching out and lets you know that he will get back to you within the next 24 hours. In the interim, he sends information about their process for working with clients, so you know what to expect next. He also points you to a page with a Workers’ Comp checklist that has questions he should ask as you work together.
Unresponsive. Another agent never responds to your email request or phone calls for days or weeks. In fact, you start to wonder if you sent an email to the right address. When you call, you immediately go into a voicemail box but never receive a response.
Minimal Communications. The third agent you reached out to lets a couple of days go by before they send you a response. When they finally do, they merely point you to their website or a landing page. They don’t say anything more. This leaves you hanging wondering about the credibility of the agent.
Tough Questions to Answer
If you were the prospective client looking for help with insurance coverage, which one of the three agents listed above would you want to consider working with?
It is easy to see that the first agent had done a few simple steps to connect with the prospect and provide them with helpful information before they have even spoken.
The other two agent response examples show a lack of interest or consideration. If you were the prospective customer, you would mark them both off your list and focus on the first agent in a heartbeat.
Pause for a moment and think about the way you respond to your clients and prospects.
It can be tough to admit, but which of the three agents do you look most like?
Communicate and Connect with Customers
With any form of customer interaction, you can have success when you follow the age-old rule of treating others the way you want to be treated. Here are a few tips to consider.
Provide Timely, Personalized Responses: Today’s society is built on instant everything. We tend to look for immediate responses whenever we send an email. So how can you apply this? Give your prospects and customers a timely response that is personalized to them. Ensure they experience a connection and feel valued by you.
Write Clear and Concise Messages. We live in an age of sound-bite journalism. We all tend to scan the pages of things we see and read. From our emails to social posts and billboards—we all are guilty of scanning. So how can you overcome the scanning issue? Write clear and concise messages that are easy to understand.
Speak Your Client’s Language. It is easy to get caught up in insurance jargon or industry speak. Remember that your customers don’t have an insurance world dictionary to help them translate what you’re saying when you use buzzwords. Use easy-to-understand terminology and analogies without acronyms when you communicate. Doing so ensures your clients connect with you and what you have to offer.
Make Lists & Use Bullets. Writing a detailed paragraph takes up your valuable time. It also means the person you’re sending it to has to take time to unravel what you’ve written to determine how it applies to them. Consider writing short sentences. Make lists and use bullet points to make what you’ve written a quick read.
Give Calls to Action. Have you ever read through an email response and scratched your head wondering what to do next? Your client has, too. Make it easy on both of you by spelling out exactly what they need to do next. Give them a call to action.
These are just a few ways you can ensure you are effectively communicating and connecting with your clients and prospects. You can also apply this tips to every audience you reach out to – from vendors to carriers to customers and friends. Doing so consistently is sure to make a positive impact and create a win-win situation for everyone.
