Risk Management

How Synapse is Different

Claims Support

We don’t disappear when our clients have a claim. Our team is lead by a dedicated in-house Environmental Risk Manager.

Underwriting Support

We review all available information, evaluate the data and prioritize exposures. We work side by side to negotiate on the insured’s behalf

Risk management principles are weaved into everything we do. When a retail insurance broker or attorney integrates Synapse into a deal, they are accessing a team of highly experienced risk management professionals who provide thoughtful and innovative strategies to address an insureds specific business risks. 

It is our deep understanding of the underlying exposures, data reports and associated risk management strategies which provides the basis for how we customize specialty insurance programs which achieve the right balance of coverage and affordability for operating businesses, property owners and contractors.

Our Process begins with underwriting support where we review all available information, evaluate the data and prioritize exposures to provide options and solutions suited to an insureds special business objectives and risk tolerance. We work closely with you to fulfill opportunities to transfer risk, evaluating it in terms risk perception in the insurance marketplace through placement and claims management, where we work side by side to negotiate on the insured’s behalf.

Synapse Risk Management evaluates liability by applying established risk management strategies to match business tolerance and deal structures.

Four Ways to Deal With Risk

Avoid Risk

Avoid identified loss by not owning a particular liability or choosing not to engage in a certain activity or walk away from a transaction or business opportunity if the risk level does not match your tolerance level.

Retain Risk

Pay for anticipated and unanticipated losses as they arise. The risk of a loss remains within the business, technology or real property.

Manage Risk

Apply techniques to measure and eliminate the severity of a loss. Techniques for real estate often include direct remediation, deed restrictions, and engineering controls. Techniques for operating businesses can include Loss Control and training programs.

Transfer Risk

Applied to transfer the uncertainty of a loss away from an operating business, new technology or real property. Risk Transfer removes a level of potential risk from the business to a third party, such as an insurance company or a prior responsible party.

News To Know

 

The Value Proposition for the Independent Wholesaler

 

The Sleeping Dragon: Understanding the Pollution and Environment Risks to Your Organization

 

Burrell's Construction Insurance "Horror Story" Article Published in Construction Business Owner Magazine