Talisman Casualty Insurance Company Brings Modern Approach To Business Insurance
October 15, 2021 at 15:44
Las Vegas-based Talisman Casualty Insurance Company is pleased to offer its unique and modern approach to business insurance. Understanding that changing times and a change in the way business is done requires a similar update in the way business insurance is handled, Talisman Casualty has set out to provide a unique experience that meets the needs of modern businesses. The goal is to allow businesses to take better control of their insurance coverage while also ensuring they have adequate coverage at all times.
The company offers captive cell insurance, which is generally considered a great vehicle for niche programs where access to capacity through international reinsurance markets can greatly expand opportunities for growth. Talisman Casualty serves the specialty insurance sector by offering protected cells to underwriters with seasoned books of business. The company exclusively provides commercial coverage.
One of the company’s most well-known programs is its surety program, which protects insureds in case a party they are contracting with fails to meet all the terms of a contract. “The surety bond protects the obligee against losses resulting from the principal’s failure to meet the obligation,” says Talisman Casualty. “In the captive insurance model, smaller numbers of principals participate in the coverage capacity, so the relationship can be more personal, and the design of the bonds can be flexible to meet the needs of the modern business environment and evolving risk — which require more flexibility. Access to surety credit can seem like an unstable marketplace where availability and willingness to bond contracts are unpredictable. Managing risk in business is much more challenging if bonded contracts are a key to stay competitive.”
They add, “There are many different types of surety bonds. The surety is actually not insurance, although it is largely provided by the insurance industry. The risk is typically underwritten with no expected losses. The relationship between principal and surety is often much closer than other forms of insurance.”
Talisman Casualty Insurance Company’s small business owner general liability program is another one of their unique programs, and it is designed with modern small business owners in mind. Many people work both full and part-time in organizations composed of only a handful of people, and an increasing number are choosing to work from home in order to reduce the burden of starting and maintaining a small business. The small business general liability program is flexible enough to include a variety of different types of businesses and offer them equally good coverage.
“Today’s insurance landscape is vast and continuing to expand, and it still uses the same fundamental ideas of pricing risk with all available historical and technical resources,” the insurance company says. “Insureds today are looking for new ways to manage risk by taking a greater role in the design of the policy, and they 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. 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. Insurance agencies, associations, and smaller companies are partnering with existing captives as well.”
The protected cell model offers a number of great opportunities, and Talisman Casualty offers the infrastructure necessary to take advantage of this. Establishing captives can be a challenging process, but Talisman Casualty is always available to help its clients through every step of the process.
For more information on the Las Vegas-based insurance company, interested parties may visit the following link: Talisman Casualty Lawsuit. Insurance is an old business and as such, it is constantly changing. By working with an insurance provider that understands this and actively works to find solutions that work, anyone can take advantage of the many insurance models and international markets available to businesses of all sizes. Those interested may get in contact with Talisman Casualty Insurance Company to begin the process of finding the right coverage for their business.
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