Talisman Casualty Insurance Company Offers Alternative to Traditional Commercial Insurance for Its Various Programs
May 15, 2023 at 16:08
Carson City, Nevada -
Talisman Casualty Insurance Company, an insurance company based in Las Vegas, NV, that provides a kind of reinsurance called protected cell captives, is offering various programs, such as: Surety Program, Pet Professional Coverage, and Marine Program. They offer an alternative form of risk transfer through the use of cell captives. An important advantage they offer is their high level of claims efficiency that is made possible through the use of cutting edge claims technology. The technology provides immediate feedback regarding the overall effect of the claims and reducing the time for adjustments is made possible because of the accumulation of data within a cell captive.
A spokesperson for Talisman Casualty Insurance Company says, “Service is our number one priority. Taking control of your insurance experience means expecting the service that managing the most critical parts of your business risk deserves. We believe that great service involves providing business resources and analytics to insureds that help them understand and manage risk more intelligently. Managing all aspects of the administration and underwriting within a managing general agency eliminates bureaucracy that slows down decision making and deploying resources efficiently. Service is more personal when underwriters have direct access to insureds.”
Talisman Casualty Insurance Company offers three key benefits that make them stand out among other similar providers. First of all, they always put the client first. They spend time fully comprehending the business of their client, when they want to be conservative and when they want to take more risk. Second, they provide the necessary business resources and analytics to insureds that can help them in understanding and managing the risk more intelligently. Third, the local knowledge and feedback they obtain directly from insureds enables them to adjust fast and provide greater flexibility as the market continues to fluctuate.
Another important benefit offered is the better management of Talisman Insurance lawsuits. Many states have direct action statutes that enable a plaintiff to file a lawsuit against an insurance company directly instead of it’s insureds. This has significantly contributed to the increase in premium cost while some industries have even experienced the reduction of capacity to almost nil due to this practice. With Talisman, the captive is owned by the insureds. Thus, they need to consider first the interest of the insureds and there is less pressure to settle when the insured wants a strong defense. This approach of always putting the insured first is one of the key reasons Talisman has become a premier provider of captive insurance.
The Surety Program of Talisman offers the surety bond, which ensures the payment of a certain amount to a certain party in case a second party fails to fulfill its obligation to the first party. This is often used in construction where a contractor has to complete the construction of a house, for instance. The homeowner is the one who receives the amount in case the contractor does not complete the building of the home based on specs or fails to pay subcontractors and suppliers. This serves as a protection for the homeowner. This is known as the payment and performance bond. Talisman also offers compliance and licensing bonds and court and legal bonds.
They also offer the Marine Program, which includes Comprehensive General Liability (CGL), Hull and Protection & Indemnity (Hull / P&I), and Maritime Employers Liability (MEL). Their Pet Professional Coverage is for small business owners who are working for themselves or have a few employees, offering services for pet owners.
Talisman Casualty Insurance Company offers an alternative risk transfer option for property and liability insurance using the protected cell captive business model. Their insurance policies and bonds are all fully licensed, authorized, and regulated insurance transactions based on the state laws of Nevada. Talisman offers insurance policies and bonds to principals who participate in a protected cell by becoming a shareholder and by consenting to a participation deal. Participants of the cell captive benefit from the regulated structures and international reinsurance markets with the potential advantage of reducing their insurance costs and expanding their coverage as dictated by their specific business goals.
Those who would like to know more about the Talisman service can check out the Talisman Insurance Company website or contact them via the phone or through email.
For more information about Talisman Casualty Insurance Company, contact the company here:
Talisman Casualty Insurance Company
7881 W. Charleston Blvd, Suite 210 Las Vegas, NV 89117