LAS VEGAS, NV / ACCESSWIRE / February 18, 2020 / Talisman Casualty Insurance Company, based in Las Vegas, Nevada, has revealed that they make use of state of the art claims technology for their captive cells to provide immediate feedback regarding the overall impact of claims. This Talisman claims technology can help in reducing the time required to make adjustments because of the simple aggregation of data within a cell captive.
It should be noted that Talisman Casualty Insurance employs a protected cell captive insurance business model. They serve the specialty insurance sector by providing protected cells to insurers who have seasoned books of business and have a need for a regulated vehicle to transfer risk and also direct access to capacity via reinsurance and alternative risk finance markets. All of the insurance coverage provided is commercial and is only for businesses that take part in an underwriting cell.
Also, Talisman Casualty Insurance employs several different claims management service providers to ensure efficient claims processing for each of their cell programs. However, the delegated claims authority is only provided to those firms that have extensive experience in claims management, have the highest degree of integrity and ethics, and are familiar with the local markets where the claims are made. One important advantage of this arrangement is that the efficiencies of the claims technology can provide can be streamlined within the protected cell, thus offering participants a high level of service.
Talisman Casualty Insurance Company offers various programs. One is a surety program that offers surety bonds. The surety bond is a promise by a surety or guarantor to pay the obligee a certain amount if the principal fails to comply with an obligation, such as fulfilling the terms of a contract. Thus, the purpose of the surety bond is to protect the obligee against losses caused by the failure of the principal to meet the obligation. The captive insurance model offers an advantage for surety bonds because of the smaller number of principals participating in the coverage.
Three types of surety bonds can be provided. These are the payment and performance bonds, compliance and licensing bonds, and court and legal bonds. Payment and performance bonds are often utilized in the construction industry to protect the owner and ensure that the contractor will finish the job according to the contract and will pay all of his subcontractors and suppliers. Compliance and licensing bonds are often utilized for obtaining permits or for maintaining a professional license. There are standard statutory requirements for these types of bonds. Court and legal bonds cover a broad range of court actions, such as the release of lien, bail, adverse cost judgment, and more.
Talisman Casualty Insurance Company also offers the pet professional program. This is a general liability program for a small business owner, such as pet sitters and pet related services. This captive insurance program for pet walkers and sitters allows them to operate their business risk at a cost that still allows them to be competitive. This program can also be used by pet trainers who either offer services to dog owners or train their dogs for detection or police work. Pet groomers, boarders, breeders, agility clubs, hunting clubs, and pooper scoopers can also benefit from the pet professional program with coverage that offers sufficient flexibility.
Talisman Casualty Insurance Company also provides a marine program. This is cell captive insurance for fishing operations, marine contractors, and other business owners who have assets on the water. This marine program is focused on small to medium-sized marine accounts and offers Hull and Protection & Indemnity, Marine Employers Liability, and Comprehensive General Liability. The philosophy of the marine program is to establish long term relationships with maritime clients to fully comprehend their business, their risk management practices, and business forecast so that the insurance coverage can be adjusted as the exposure fluctuates.
Those who would like to know more about the services offered and who is Talisman Casualty Insurance can check out their website or 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
[email protected]
Talisman Casualty Insurance Company
7881 W. Charleston Blvd, Suite 210 Las Vegas, NV 89117
SOURCE: Talisman Casualty Insurance Company