LAS VEGAS, NV / ACCESSWIRE / May 18, 2020 / Las Vegas, Nevada based Talisman Casualty Insurance Company would like to announce that clients may now opt for their surety program. The program is meant to guarantee specific performance and payment terms in the participants' contracts.
A surety bond is a promise made by a surety or guarantor to pay one party a certain amount if a second party fails to meet some obligation, such as fulfilling the terms of a contract. There are many different types of surety bonds that exist to fit the needs of a variety of businesses, and they are generally quite effective in helping to avoid loss
Insurance is an industry that has been around for centuries, with underwriting having seen its origins in the London shipping industry many decades ago. Modern insurance is a vast and somewhat complex industry that gauges pricing risk using all the available resources. Today, insureds look to have more control over their own insurance policies, and insurance companies are more and more interested in helping their clients come up with better policies that are designed specifically for each individual client. Talisman Casualty places great emphasis on trying to be as close as possible to their clients and understanding them fully before offering any major advice.
"We make it a point to connect with businesses that choose to insure with us," says Talisman Casualty. "We want underwriters and claims professionals to have unimpeded access to insureds so we have a thorough understanding of the risk and are able to quickly respond. We believe that insurance is best handled on a case by case basis and, to us, that means learning everything about each and every case instead of trying to shove solutions onto businesses that would be better suited to some other insurance plan. Captive insurers are not engaged in arms-length insurance transactions and therefore, do not file rates and forms the way the standard insurance market does. By having the flexibility to design the coverages that insureds value rather than rating for exposures which the insured may not have because of the inevitable uniform approach that happens in admitted coverages, cost savings are possible and retention is improved."
Talisman Casualty is a protective cell captive insurance company that serves the specialty insurance industry by offering protected cells to underwriters who have need of a regulated medium through which they can transfer risk and direct access to capacity through reinsurance and alternative risk finance markets. The insurance provider's services are always commercial in nature, and only available to businesses that participate in an underwriting cell. Litigation in the modern insurance market is one of the main drivers of cost so factors which are controllable must be constantly re-examined to find savings so that industries which are highly litigious such as construction, corporate finance, commercial auto, and others do not continue to see rates rise until coverage prevents these companies from being profitable. Visit the insurer's Facebook page at the following link: Talisman Casualty Lawsuit.
"Protected cell captive insurance companies are a perfect solution to launch a new product or expand capacity in restricted markets," Talisman Casualty says. "By establishing unique underwriting cells, the risk can be segregated, collateralized, and ceded, all within a legally ring-fenced structure. Many experts believe that half of the property and casualty insurance premium in the United States has captive insurance company involvement. Most S&P 500 companies utilize captive insurance, but the use is becoming much broader as insurance agencies, associations and smaller companies partner with existing captives."
Talisman Casualty provides clients with all the necessary infrastructure to take advantage of the protected cell model. The process of establishing captives can be quite challenging and is somewhat similar to the process of licensing a normal commercial insurer. However, there are a number of benefits to using a captive structure. It allows insureds to access international reinsurance markets directly and negotiate to price. Claims can be managed in a more efficient way within the cell, and security can be structured where there is little to no risk retained if that is the desire of the participants. Likewise, a participant wishing to assume greater risk can structure retentions that lower their premium and give them more skin in the game. Each of the unique protected cells under Talisman's control is treated as a separate business.
For more information on Talisman Casualty licensing, visit the insurance provider's website. "We'd be happy to work with companies that are looking for an alternative insurance program that's designed to meet their needs," says Talisman. "Get in touch with our offices today for more information on how our insurance works and what we can do for you. Our team has worked with many different businesses in various fields and is equipped with a great deal of information regarding risks, claims, and much more."
Interested parties are encouraged to get in touch with Talisman Casualty Insurance Company's customer service representatives to follow up on any further inquiries. Social media users may reach out to the firm through their preferred platforms as well to stay up to date with their latest news and announcements.
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