Talisman Casualty Insurance Company Ensures that Service Is Their Top Priority
September 19, 2023 at 16:24
Carson City, Nevada -
Talisman Casualty Insurance Company, a protected cell captive insurance firm based in Nevada, wants to emphasize that service is their top priority. They do this by employing a managing general agency (MGA) to handle all aspects of the administration and underwriting to avoid the bureaucracy that delays decision making and allows efficient deployment of resources. In addition, by managing participants’ risk within cells based on a specific program focus, they are able to help clients achieve careful and profitable expansion and get the best service available.
A spokesperson for Talisman Casualty says, “The Talisman Casualty Insurance service is about people. Connecting with insureds involves spending time understanding their business and understanding when they want to take more risks and when they want to be conservative. It is also about business resources. We believe that great service involves providing business resources and analytics to insureds that help them understand and manage risk more intelligently, and it is also about local knowledge. Talisman gathers local knowledge and valuable feedback directly from our insureds allowing us to adjust quickly and give greater flexibility, understanding that the market never stops changing.”
In the setup established by Talisman Casualty Insurance Company, the protected cells are only offered to insurers who have seasoned books of business and are in need of a regulated vehicle for transferring risk and allowing access to alternative risk and reinsurance finance markets. Each cell captive has a core and several cell entities that are legally separate from each other. Each protected cell has its own assets and liabilities, and the core of the cell serves as a central fund just like the market model of Lloyd’s of London. Having several layers of protection and a diverse and specialized business mix, the captive cell would be able to grow even while the insurance market is on the decline and hampered by increasing costs. Because the cells are legally distinct, this means the assets of one cell cannot be used to pay for the liabilities of another cell.
The spokesperson explains, “Insureds today are looking for new ways to manage risk by taking a greater role in the design of the policy and are looking to profit from retaining risk. Protected cell captive insurance companies are a perfect solution to launch a new product or expand capacity in restricted markets. By establishing unique underwriting cells the risk can be segregated, collateralized, and ceded all within a legally ring-fenced structure.”
Talisman Casualty Insurance Company offers all of the required infrastructures to benefit from the protected cell model. Creating these cell captives may present many challenges and its licensing process is similar to that of a regular commercial insurer. However, it offers several cost-saving advantages as a result of using the captive structure. The insureds are provided with direct access to international reinsurance markets and they can negotiate pricing based on the experience of a specific small to midsize book of business or even find capacity for a new concept. Claims can be managed efficiently within the cell and security can be structured in such a way that little to no risk is retained. Each unique protected cell functions as a separate business unit with the flexibility to adjust fast to achieve the best underwriting possible.
Talisman Casualty is a provider of an alternative risk transfer option for property and liability insurance that employs the protected cell captive business model. Their insurance policies and bonds are all completely licensed, authorized, and regulated insurance transactions in compliance with the state laws of Nevada. Talisman offers insurance policies and bonds to principals who take part in a protected cell by becoming a shareholder and by signing a participation agreement. Those who take part in the cell captive can benefit from the regulated structures and international reinsurance markets and can possibly decrease their insurance costs and increase their coverage based on their business goals.
Those who are interested in learning more about the Talisman Casualty Insurance services, including how they provide their services. To know more visit this link: Talisman Insurance lawsuits, clients can also visit the Talisman Company website or contact them on the telephone 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