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Talisman Casualty Insurance Company LLC - Claims Lawsuit Avoidance

Talisman Casualty Insurance Company, based in Las Vegas, Nevada, has revealed that they can offer help to businesses on how to avoid claims involving 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. Participants in the cell captive are owners, and the close relationship between the insured participant and claims professionals allows quicker response and resolution to claims which could lead to litigation.

Talisman Casualty Business Model

Talisman Casualty Insurance Company uses a protected cell captive insurance business model. These protected cells are offered to agents 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, which is a type of central fund that protects the solvency of each cell 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. This allows each cell to be set up with it’s own unique underwriting and claims structure and increases the responsiveness that may not exist in insurance companies with vertical corporate structures.

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.

Talisman Casualty Programs

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, tug and barge companies, 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. This sector of the marine market is often referred to as brown water. 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-fit to fluctuating exposures. When the marine market experiences volatility, the cell captive approach gives marine businesses flexibility to quickly adjust their insurance program to meet the challenges of changing cash flow and exposure.

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 trainers, pet groomers, canine detection, therapy animals, hunting clubs who utilize dogs,  and many other pet and working animal related services. Management of the pet program is made up of insurance professionals who have personal experience in pet fields and that niche gives Talisman a responsive, service oriented program which has been very popular within the rapidly expanding “pet economy”. The Talisman pet professional program gives businesses a competitive advantage with cost effective, comprehensive, and when needed, specialized coverages that may not be available through the general insurance products they may find elsewhere.

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. In the event of a claim, the surety assumes the rights of the principal and can perform on their behalf, tender their obligations to the owner, or in the event that the principal has been wrongfully defaulted, mount a defense. For this reason, surety is not considered insurance and is viewed as a type of co-signing on a contract. Due to the unique nature of this product, the captive cell model is a good fit for those principals who are building credit, performing unique contractual work, or who require additional oversite or risk management attention.

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 or to other professionals who must provide security for the performance of their contracts. Court and legal bonds are used for a wide range of court actions, such as bail, adverse cost judgment, 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

.For more information, you can contact them here: 

Talisman Casualty Insurance Company

7881 W Charleston Blvd Suite 210, Las Vegas, NV 89117, United States

800-318-5317