Talisman Casualty Insurance Company Is Providing Tailored Captive Cell Claims Management To Its Customers

Talisman Casualty Insurance Company (Las Vegas, NV), is a protected cell captive insurance company domiciled in Nevada that serves the specialty insurance sector by offering protected cells to underwriters who have seasoned books of business and need a regulated vehicle to transfer risk. It also provides direct access to capacity through reinsurance and alternative risk finance markets. All coverage provided by Talisman is commercial and is only available to those businesses who participate in an underwriting cell.

They provide tailored claims management to their customers. They use a number of different claims management service providers to enable efficient claim processing for each of their cell programs. Delegated claims authority is only given to firms who have extensive claims management experience, know the local markets where claims are made, and operate with the highest degree of ethics and integrity. The efficiencies that technology can bring to the claims process can be streamlined within the cell giving participants a high level of service.

Talisman Claims Management of Captive Cells relies on state-of-the-art claims technology giving immediate feedback of the overall impact of claims and the time needed to make adjustments can be decreased due to the simple aggregation of data within a cell captive. Since claims account for the majority of a captive’s expenses, best practice claims management is one area where captives can distinguish themselves from most traditional insurers.

Talisman Casualty Insurance Company is an alternative risk transfer option for liability and property insurance. Talisman insurance policies and bonds are duly licensed, regulated, and authorized insurance transactions governed by the laws of the state of Nevada. Bonds and insurance policies are made available to principals who join the captive as participants by executing a participation agreement and becoming a shareholder. By offering participants access to regulated structures, they can access international reinsurance markets and potentially lower their insurance costs and enhance their coverages to fit specific business objectives. All Talisman capital, surplus, reserves, and financial records are maintained per the provisions and regulations of Talisman Casualty Insurance Company. This results in an alternative risk transfer option for liability insurance.

Talisman insurance policies and bonds are duly licensed, regulated, and authorized insurance transactions governed by the laws of the state of Nevada department of insurance. Bonds and insurance policies are made available to principals who join the captive as participants by executing a participation agreement and becoming a shareholder. All Talisman capital, surplus, reserves, and financial records are maintained per the provisions and regulations of NRS Chapter 694 C (Captive Insurers) NRS Chapter 694 C (Captive Insurers).

When asked about the service provided by the company, a spokesperson says, “There is a dearth of companies providing high-quality service in the captive insurance sector. We believe that great service involves providing business resources and analytics to insureds that help them understand and manage risk more intelligently. Connecting with insureds involves spending time understanding their business and understanding when they want to take more risk and when they want to be conservative. Local knowledge and valuable feedback directly from our insureds allow us to adjust quickly and give greater flexibility understanding that the market never stops changing.”

An insight on the captive insurance market from AM Best Co. Inc. says, “The captive insurance market continues to remain resilient, effective, efficient and profitable, with rising premiums and lower combined ratios compared with the traditional insurance market as it further expands to cover evolving risks.” Jay Adkinson from Riser Adkisson LLP says, “Indeed, captive insurance must rank as one of the best business asset protection strategies ever created.” The Captive Insurance Times says, “Nevada, which is known for being a business-friendly state, ranks high in the nation as a domicile for captive insurers.”

Talisman Casualty suit avoidance strategies are 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.

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For more information about Talisman Casualty Insurance Company, contact the company here:

Talisman Casualty Insurance Company
800-318-5317
info@talismancasualty.com
7881 W. Charleston Blvd, Suite 210 Las Vegas, NV 89117

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