LAS VEGAS, NV / ACCESSWIRE / December 5, 2019 / Talisman Casualty Insurance Company, based in Las Vegas, Nevada, has announced that they employ state of the art claims technology. They also use various claims management service providers to ensure efficient Talisman Casualty claims processing for each of their cell programs. The company is a protected cell captive insurance firm based in Nevada and offers protected cells to underwriters who require a regulated vehicle for transferring risk and direct access to capacity via reinsurance and alternative risk finance markets. They want to point out that because claims make up a major portion of the captive's cost, captives can make themselves stand out from most traditional insurers through best practice claims management.
A spokesperson for Talisman Casualty Insurance Company says, "We use a number of different claims management service providers to enable efficient claim processing for each of our cell programs. Delegated claims authority is only given to firms who have extensive claims management experience, know the local markets where claims are made, and operate with the highest degree of ethics and integrity. The efficiencies that technology can bring to the claims process can be streamlined within the cell giving participants a high level of service."
Talisman Casualty Insurance Company employs the protected cell captive insurance business model because it is the most suitable solution for introducing a new product or expanding capacity in restricted markets. They are able to segregate, collateralize and cede the risk within a legally ring-fenced structure by creating unique underwriting cells. Many experts are of the belief that 50 percent of all property and casualty insurance premiums in the United States involve a captive insurance company. In fact, most S&P 500 companies have been using captive insurance but its usage is expanding to include insurance agencies, associations, and small insurance companies are collaborating with existing captive insurance companies.
Meanwhile, Talisman Casualty Insurance Company offers all of the required infrastructure for employing the protected cell model. It should be noted that the process of creating captives can be difficult and challenging and similar to the licensing process utilized for a regular commercial insurer. However, the use of a captive structure provides many cost savings opportunities. Claims can be managed efficiently within the cell and the security can be structured in such a way that there is little to no risk. Second, the insureds get direct access to international reinsurance markets and can negotiate pricing based on a certain small to the midsize book of business or even find capacity for a unique concept. And third, each one of the unique protected cells functions as separate business units affording them the flexibility to adjust quickly to attain the best underwriting success.
Talisman Casualty Insurance Company offers three kinds of programs. These are the surety program, pet professional coverage, and marine program. First of all, they offer surety bonds, which is basically a promise made by a surety or guarantor to pay the obligee a certain amount in the event that the principal is unable to comply with a certain obligation, such as fulfilling the terms of a contract. Using the captive insurance model, smaller numbers of principals participate in the coverage capacity so that the relationships can be made more personal or custom-tailored. The design of the bonds is more flexible and able to meet the requirements of the modern business environment.
Second, they offer a small business owner general liability program that fits the needs of small business owners, especially those working from home and who want to minimize their burden of initiating and maintaining a small business. Emerging small business markets, including pet sitters and pet-related services benefit from this kind of program.
Third, the cell captive insurance model is fitting for marine contractors, fishing operations and other business owners who own assets on the water. Their marine program offers maritime employers liability, hull and protection and indemnity, and comprehensive general liability with admission into the program cell.
Those who are interested in the services provided by Talisman Casualty Insurance Company and would like to know more on who is Talisman Casualty Insurance can visit their website contact them through the telephone or via email.
For more information about Talisman Casualty Insurance Company, contact the company here:
Talisman Casualty Insurance Company
800-318-5317
info@talismancasualty.com
Talisman Casualty Insurance Company
7881 W. Charleston Blvd, Suite 210 Las Vegas, NV 89117
SOURCE: Talisman Casualty Insurance Company
View source version on accesswire.com:
https://www.accesswire.com/569257/Talisman-Casualty-Employs-State-of-the-Art-Claims-Technology
