by David and Tracy Bell | Sep 7, 2023
Every small business owner needs to manage risk, and obtaining commercial insurance is one of the best ways to do that. But finding the right coverage can be overwhelming, especially for those who have never purchased coverage before. Here are three things to consider.
Consider what is legally required. Buying business insurance may be a necessity, depending on your location, industry, state, clients and lenders. For example, businesses with employees must generally carry workers’ compensation insurance. Clients may require that you carry professional liability coverage or errors and omissions insurance. And if you’re renting office space, your landlord may require you to buy a general liability policy, which covers third-party lawsuits over bodily injury or property damage.
Understand your industry’s risks. Because every industry is different, the risks to a business often depend on its industry. For example, an accountant should worry about liability if a mistake is made completing a client’s taxes; a restaurateur should worry about a diner contracting food poisoning.
Learn what might affect your costs. Your location, the type and size of your business, and the assets you are insuring may all affect the premium you pay for coverage. While you can’t control many of these things, you can take some steps to help keep your premiums down, such as creating a safe work environment, vetting employees carefully, and not allowing your coverage to lapse.
Call or email us today to schedule some time to review your insurance needs.
by David and Tracy Bell | Mar 11, 2023
When your agency began doing business with Syndicated Resource Group Holdings, Inc. or created access to the online services, you reviewed and accepted our marketing and user agreements. We are revising the agreements with updated terms and conditions, effective March 15, 2023.
Do you need to do anything?
If you agree with these changes, you don’t need to take any action. Continuing to use the service after the effective date indicates your agreement with these changes. The changes will not impact the commission schedules for our various products and service offerings.
To review the new agreement, please click here.
Broker Portal
Please review the information in your portal. If you need to update or change this information, you may log-in or contact us.
About Us
Did you forget about us? No worries! Our leading technology automation, strategic industry partnerships and comprehensive professional services provide high commissions while growing a broker’s book of business. With access to more markets and program offerings, we provide a broker marketplace for competitive insurance offerings.
A free Syndicated Services account provides insurance brokers with a dashboard of options that provide save time and money. Access our broker portal for:
- Quick policy quotes from a wide array of markets
- Instant access to Appulate ACORD data management portal
- Robust technology to manage and grow your book of business
- Bundled or à la carte staffing options
- Unrestricted payment options using the payroll provider of your client’s choice
- Various HR consulting services to beef up your competitive offerings
by David and Tracy Bell | Aug 23, 2022
Every small business owner needs to manage risk, and obtaining commercial insurance is one of the best ways to do that. But finding the right coverage can be overwhelming, especially for those who have never purchased coverage before. Here are three things to consider.
Consider what is legally required. Buying business insurance may be a necessity, depending on your location, industry, state, clients and lenders. For example, businesses with employees must generally carry workers’ compensation insurance. Clients may require that you carry professional liability coverage or errors and omissions insurance. And if you’re renting office space, your landlord may require you to buy a general liability policy, which covers third-party lawsuits over bodily injury or property damage.
Understand your industry’s risks. Because every industry is different, the risks to a business often depend on its industry. For example, an accountant should worry about liability if a mistake is made completing a client’s taxes; a restaurateur should worry about a diner contracting food poisoning.
Learn what might affect your costs. Your location, the type and size of your business, and the assets you are insuring may all affect the premium you pay for coverage. While you can’t control many of these things, you can take some steps to help keep your premiums down, such as creating a safe work environment, vetting employees carefully, and not allowing your coverage to lapse.
Call or email us today to schedule some time to review your insurance needs.
by David and Tracy Bell | Jul 20, 2022
As the owner of a small business, one of your many responsibilities is likely managing business insurance costs. With everything else going on in the world today, you may feel like you don’t have time to keep on top of this responsibility.
But it’s still a good idea to periodically review your business insurance coverage to ensure that you have the policies you need and are getting the most for your money.
Here are five things to consider.
Are you reviewing coverages annually? Business needs can change rapidly, so it’s a good idea to review your policy with us on a regular basis. You may find, for example, that you need to purchase additional protection (perhaps you’ve purchased new computer equipment, or perhaps you’ve increased or decreased employees). Or you may find that you can save money by adjusting some coverages. We can help you ensure that you have the appropriate coverage for your business.
Can you reduce expenses by combining coverage? It wouldn’t be surprising for you to have multiple policies with different insurance companies. For example, you might have general liability coverage from one insurer and cybersecurity coverage from another. By bundling all of your coverage, you may be able to reduce your premiums. And having only one policy can make managing your renewals a little less time-consuming.
Can you change your deductibles? A general guideline for insurance costs is as follows: higher deductibles, lower premiums; lower deductibles, higher premiums. So increasing the deductible on your business insurance policy may reduce the cost of your premium. You might then invest the money you save back into your business. Before opting for a higher deductible, however, it’s a good idea to consider how much money you have available to pay out of pocket for a covered claim, such as a theft or a fire. You don’t want to risk your business’s future to save a bit of money each month.
Consider stronger risk management in your daily operations. It’s important to think about your coverage needs in advance. Can you pinpoint potential business risks? For example, if your company could possibly experience a data breach, you will want to have cybersecurity coverage. Otherwise, you’d be responsible for costs related to your business’s recovery from a breach, such as credit monitoring services, legal fees and fines from your state if your business is required to have this kind of coverage. This could cost thousands of dollars, so having the right insurance coverage in place can be critical if the unexpected happens.
Plan for uncertainties. You might also consider taking measures to help reduce business risks. One measure is planning for a disaster, such as a destructive storm or fire or data breach, as mentioned above. But business succession planning is also critical. As a business owner, you’ll want to ensure that you leave everything in order should you need to leave the business unexpectedly.
We can help you review your current insurance coverage and make adjustments based on your company’s changing needs. Call or email us. We’re always here for you.
by David and Tracy Bell | Dec 20, 2021
| A Guide on How to Achieve Big Dreams |
| Ever made a New Year’s resolution that you then worry is unrealistic? The good news is there’s no such thing. Here are five steps for following the dreams you really want to achieve.
Picture your dream clearly. Focus on what your dream is. Picture it as fully and vividly as possible, and then write down exactly what you see and how you see it. Research from Dominican University’s Dr. Gail Matthews has shown people who write their goals down are 42% more likely to achieve them.
Ignore any negativity coming your way. A marathon runner is far more likely to take advice from someone who’s run a marathon than an armchair-dwelling naysayer. Take feedback from those who want you to achieve your dreams, not those who’d rather shoot you down.
Surround yourself with positive influences. Now that you’ve filtered out the negative ideas and people who’d seek to hold you back, it’s time to fill your headspace with stories and people who have achieved supposedly “unrealistic” dreams. Finding strong role models for yourself is a powerful way to break away from any limiting beliefs you may have previously had.
Spend a moment in your future self’s shoes. Think about what kind of life you’d like to look back on when you’re nearing the end. Do you want to have stories to tell, or would you rather have the regrets of not having tried? Even knowing that you did your best will leave you with a much more positive outlook.
Take action! A bodybuilder doesn’t gain muscle by just thinking about lifting weights or reading weightlifting magazines. Once you know what you want, put the tangible work in to start achieving. |
by David and Tracy Bell | Oct 14, 2021
In our community, we have seen many businesses struggle to keep staff. Some of the restaurants are altering their hours because they don’t have enough workers which means that they are forced to pay overtime and this erodes their profit margins during this critical “jump-start” phase. As we emerge from the restrictions and quarantines, it’s not just restaurant owners facing these frustrating challenges.
We recognize that the pandemic will impact our clients and partners forever. While the risk of infection is diminishing due to vaccinations, many of the workflows in the service sector have been forever changed. Employers will need to carefully navigate through the “new normal”. Without a doubt, flexibility is imperative. Also, technology will continue to play an important role by allowing collaboration without the necessity of face-to-face meetings.
While technology is the tool, the most important asset of businesses will continue to be the human element. Competition for dependable and experienced workers will require a renewed focus on recruiting and employee retention strategies. As a stimulus to employers and direct payments to employees run out, business growth will only be limited by the employee-supported service capacity.
Our strategy, at Syndicated Resource Group, will be to offer products and services to employers which augment their ability to remain flexible and allow growth supported by a reliable workforce.
