SGP Advisors

HCMA Benefit Providers can assist you professionally and personally. Find out more by visiting the link in our bio or HCMA.net. SGP Advisors

We’re excited to invite you to our Open House event! Join us tomorrow for an afternoon of hors d'oeuvres, drinks, and quality time with your favorite insurance professionals. 😊   Event Details: Date: Thursday, August 29, 2024 Time: 5:30 pm Location: We Work Building, 501 E Kennedy Blvd. Suite 1000, Tampa, FL 33602   Please let us know if you can make it by submitting your RSVP to Heather at [email protected]   We can’t wait to see you there!

Please join us for our client appreciation event next Thursday, August 29th at 5:30 pm. We look forward to hosting our clients and partners in our office! Please RSVP to [email protected]. 🎶🦐 🥂

Behind the scenes of Talyn Guercio, COO having her interview done for Tampa Bay Business & Wealth Magazine Apogee Award 🏆 nomination at Bake More Pies 🎥 #POV

The Crowdstrike incident on Friday, July 19th disrupted a range of industries and more were affected by the outage. CrowdStrike said over the weekend that a bad sensor configuration update in its cybersecurity platform was the cause of the massive global computer outage. Within 24 hours the issue appeared to be resolved, but it could have a ripple effect on the cyber insurance market. Market Insight: As with any event, carriers are grappling to understand the full extent of the issue and how it may impact their books. One domestic underwriter stated: “The details of this outage are still being figured out but as of now, this does appear to be covered under Operational or Administrative Error. I’m HIGHLY skeptical that this will harden the market. If CDK and Clear didn’t already do that, this will not. Especially since CrowdStrike got the fix fairly quickly.” A Lloyds underwriter was more pessimistic about the situation: “The business income losses from this event should be covered in most policies. Insureds should look for coverage under Business Interruption or Dependent Business Interruption insuring agreements. If the insured uses Crowdstrike directly, this outage would most likely trigger the Business Interruption insuring agreement. If the insured uses a third-party service provider to conduct its daily operations, and that service provider is impacted by this outage, the insured should be covered under the Dependent Business Interruption insuring agreement. This event highlights the systemic risk for every business across the economy. It doesn’t matter how little technology you use, or how strong your cyber controls are. Businesses are increasingly exposed to major interruptions caused by third parties. At the very least, this will most likely force carriers to reconsider pricing and limit deployments for business interruption and dependent business interruption coverages.” We could see capacity become harder to obtain and premiums rise. Now is the time to secure cyber insurance. Don’t hesitate to contact your SGP Advisors professional broker with any questions or account needs during this time. We will leverage our expertise, market relationships, and resources to deliver the best coverage for you.

USFN would like to thank our 2024 Visionary Circle sponsors: a360inc, ProCirrus Technologies, ProVest LLC, and SGP Advisors. Your generous support helps us produce quality events and education for our members throughout the year. USFN and all of our members are grateful for your support. #USFN

Partner Jack Compton will be speaking at the USFN Compliance & Legal Issues Seminar, August 22-23 in Dallas, TX.

Hurricane Season checklist for your business: 1.    Check your insurance. That may even mean calling your agent or re-evaluating your insurance. We can help you with that. Know what your coverage is and if it is sufficient. 2.    Take a moment to make a complete inventory of your business. Take pictures, write down serial numbers, and any other important information. In addition to a hard copy printed out, save a copy in Dropbox or google so it’s in the cloud and accessible easily. 3.    Assign key employees to contact customers, utility companies, suppliers, and creditors during recovery. This can keep the public informed as to whether a business is still up and running, or give updates on rebuilding efforts if necessary. Back up all your files in an offsite server or service. 4.    Create a plan for you and your employees. Know the evacuation routes from your business and their homes. Make a list of emergency contacts and addresses. Remember that during natural disasters, phone lines may be down, and power is out. When disaster strikes, having a plan already in place will save you and your employees a lot of stress. It will also, reassure your customers that they won’t lose you and their information is safe. A lot can be said for peace of mind and knowing that you will have a safe haven if disaster strikes. 

We are proud to announce Talyn Guercio, Chief Operating Officer at SGP Advisors has been selected as a finalist for the 2024 Apogee Awards. The Apogee Awards is a unique awards program, created by Tampa Bay Business & Wealth Magazine, to recognize distinguished c-suite leaders whose dedication to their industries and communities deserves particular recognition. Join us in recognizing her accomplishment!

These kind words from our clients remind us why we do what we do. 💙 Thank you for your trust!