Talisman Casualty Insurance Offers Range Of Services To Community
May 06, 2022 at 15:25
Carson City, Nevada -
Talisman Casualty Insurance Company, based in Las Vegas, Nevada, is pleased to share that they are offering a range of risk management services to their local community. Talisman is a protected cell captive insurance company that caters to the specialty insurance sector.
Talisman offers protected cells to underwriters who have long-serving books of business and need an efficient and regulated insurance policy to transfer risk and direct access to capacity through reinsurance and alternative risk for financial markets. The coverage provided by Talisman is provided to businesses that participate in an underwriting cell. The company also offers custom-tailored claims management options to local businesses that are a part of their clientele. They maintain a high standard of service by working in concert with several claims management service providers to ensure an efficient claim process for each cell program. A delegated claims authority will only be available to firms that have extensive claims management experience, as well as having expert knowledge of the local market where claims are made. Our claims team must also maintain a high standard of ethics and integrity.
Rapid developments in technology have created many benefits for this field, and the company has introduced them to the claims process (as it can be streamlined within the cell, giving clients an even higher standard of service). Claims management of captive cells is dependent on this efficient and modernized claims technology, as it provides each owner with immediate feedback and data on the overall impact of claims. This has the added benefit of reducing the time needed to adapt due to the simple aggregation of data within a cell captive. As claims usually account for the majority of a captive’s expenses, an organized claims management practice is how captives must distinguish themselves from most traditional insurers through their claim management process.
For each Talisman Casualty suit, the company is dedicated to being on top of the latest developments and maintaining its mastery of the latest technology in order to provide an outstanding service to its clientele. The company also highlights that utilizing local adjusters who meet the necessary ethics and competency criteria gives participants the best overall claims experience. Proprietary Claims Software can also be integrated into a cell captive program without participants having to worry about the unnecessarily high expenditure associated with licensed software (which is mostly aimed at large commercial insurers).
Talisman provides an alternative risk transfer option for liability and property insurance. Talisman’s insurance policies and bonds are all licensed, regulated, and authorized insurance transactions and are held accountable under state law in Nevada. Bonds and insurance policies are made available to principals who join the company as participants by validating a participation agreement, thereby becoming a shareholder. By offering participants access to such regulated structures, they are able to access international reinsurance markets, which potentially see a decrease in their insurance costs — while customizing their coverages to fit the objectives of their specific business. The company is vigilant about maintaining its capital, surplus, reserves, and financial records according to the mandated provisions and regulations in NRS Chapter 694 C.
Talisman also acknowledges that a standardized approach is not as successful or as efficient at lowering their clients’ costs when compared to the lowered cost associated with smaller, self-insured small business groups with better risk profiles. This is a key element in their business models, as captive insurance is a better option for lower premium costs and expanding capacity when utilized properly. A highlight of the services provided by Talisman is the dedication and efficiency with which they can establish themselves within a company. As the company is already in existence, Talisman is able to integrate its services without any disruption to the functioning of a business, and their cells only serve to segregate new risks. The company also tailors these cells according to the specific criteria requested by their clientele. Once a cell is no longer needed, the run-off process can be completed without any hassle.
Customers can find out more about the company and the field of cell captive insurance on their official website and social media channels. They may contact Talisman’s representatives directly as well.
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