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Talisman Casualty Insurance Company LLC Can Help with Claims Lawsuit Avoidance

Wednesday, 11 March 2020 12:30 PM

Talisman Casualty Insurance Company

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LAS VEGAS, NV / ACCESSWIRE / March 11, 2020 / Talisman Casualty Insurance Company, based in Las Vegas, Nevada, has revealed that they can offer help to businesses on how to avoid claims lawsuits. This is because when businesses participate in their cell captive insurance business model, they are able to benefit from their efficient claims processing because of their application of advanced cutting-edge claims technology for their captive cells. The Talisman Casualty lawsuit avoidance strategy is to use claims technology that substantially boosts the efficiency of the claims process because it can be streamlined within the cell, providing participants a high level of service.

Talisman Casualty Insurance Company uses a protected cell captive insurance business model. These protected cells are offered to insurers with seasoned books of business and require a regulated vehicle for transferring risk and directing access to capacity through reinsurance and alternative risk finance markets. Cell captives are made up of a core and a number of cell entities that are kept legally separate from each other. Each cell has certain dedicated assets and liabilities that are ascribed to it. Since the cells are legally separate, the assets of one cell cannot be used for meeting the liabilities of another cell.

Talisman Casualty Insurance ensures that different claims management service providers are used to ensure efficient claims processing for each of their cell programs. They also make sure that the delegated claims authority is only given to those service providers that have a wide range of experience in claims management, are the best in terms of integrity and ethics, and are well-versed with the local markets where the claims are made. Through this arrangement, the efficiencies of the claims technology can be streamlined within each protected cell, thus providing participants a high level of claims service.

One of the programs offered by Talisman Casualty Insurance Company is the marine program. This is cell captive insurance designed specifically for marine contractors, fishing operations, and other business owners who own assets that are on the water. This marine program is specifically designed for the small to medium sized marine accounts and provides Marine Employers Liability, Hull and Protection & Indemnity, and Comprehensive General Liability. In this marine program, the company's goal is to establish long term relationships with maritime clients to fully understand their business, their risk management methods, and the business forecast so that the insurance coverage provided can be tailor-fitted to fluctuating exposures.

Talisman Casualty Insurance Company also offers a cell program for pet professionals. This is a general liability program designed for small business owners who are in the pet industry. These include pet sitters, pet trainer, pet groomers and other pet-related services. This program allows these pet professionals to operate their business risk at a cost that permits them to remain competitive.

Another cell program offered is the surety program that provides surety bonds. The surety bond is a guarantee issued by a surety or guarantor to pay a certain amount of money to the obligee in case the principal is unable to comply with an obligation, such as fulfilling the terms of a contract. Thus, the surety bond protects the obligee against losses resulting from the failure of the principal to meet the obligation. The captive insurance model offers an important benefit for surety bonds. This is because there is a smaller number of principals participating in the coverage.

There are three types of surety bonds that can be offered. These are the compliance and licensing bonds, payment and performance bonds, and court and legal bonds. Compliance and licensing bonds are used in getting permits or for maintaining a professional license. There are conventional statutory requirements for this kind of bond. Payment and performance bonds are used often in the construction industry to protect the property owner in case the contractor does not complete the job according to the contract and neglects to pay all of his subcontractors and suppliers. Court and legal bonds are used for a wide range of court actions, such as bail, adverse cost judgment, the release of lien, and more.

People who are interested in the services offered by Talisman Casualty Insurance can visit their website or contact them on the telephone or through email. They may also want to check on the Talisman Casualty rating.

Talisman Casualty Insurance Company, Wednesday, March 11, 2020, Press release picture

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

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