Talisman Casualty Insurance Company LLC Explains Their Surety Program
Las Vegas, Nevada-based Talisman Casualty Insurance Company LLC is reaching out to the wider community to explain their Surety Program service. Talisman Casualty Insurance Company is a specialized insurance company that provides clients with an alternative risk transfer option for liability and property insurance. More information about the company can be found at the following link: Talisman Casualty Suit.
As the company explains, a surety bond — also known simply as a surety — is a promise by a surety or guarantor to pay one party (the obligee) a certain amount if a second party (the principal) fails to meet some obligation, such as fulfilling the terms of a contract. The purpose of the surety bond is to protect the obligee against losses resulting from the principal’s failure to meet the obligation.
According to Talisman Casualty Insurance Company, given that there are fewer principals who are willing to participate in a coverage capacity in the captive insurance model, the relationship between the obligee and the principal can be more personal. This also means that bonds can be flexible, easily meeting the needs of the modern business environment where there are evolving risks.
A representative for Talisman Casualty Insurance Company says “The best part about surety programs is that there are several different types of surety bonds that you can take advantage of. Though you do have to note that while surety is mostly provided by the insurance industry, it’s actually not insurance because the risk is typically underwritten with no expected losses, and the relationship between principal and surety is often much closer than other forms of insurance.”
The numerous types of surety bonds include Payment & Performance bonds, Compliance & Licensing bonds, Court & Legal bonds, and more. Payment & Performance bonds are often used in the construction industry as a form of protection for an owner that their contractor will complete the job according to the contract, and they will pay all of his subs and suppliers. Compliance & Licensing bonds, on the other hand, are often used to maintain a professional license or to obtain permits. There are typically statutory requirements for these types of bonds while the Court & Legal bonds cover a wide range of court actions, including bail, the release of lien, adverse cost judgment, and much more.
Talisman Casualty Insurance Company LLC specializes in a special type of insurance known as ‘captive insurance’ where an insurance business is created that is completely controlled and owned by its own insureds. According to Talisman Casualty Insurance Company’s representative, the main purpose of having a captive insurer is insurance against the risks of its owners. When they are being insured by a captive insurer, the insured companies are able to benefit from the underwriting profits of the captive insurer.
The company’s representative says, “From the inception of our company, our priority has been maintaining the highest standard of professionalism across everything that we do. We can proudly say that we are one of the most trusted insurance companies across the world because of tremendously organized policies, high quality, high-standard claims process and our hard work and ethics. If you are looking for a trustworthy and legitimate insurance provider who does not cut corners, Talisman Casualty is your best option. Our team is composed of industry veterans who have worked in insurance for decades, and their expertise can be seen in each step of the process, from the initial consultation to the claims process and beyond.”
Learn more about Talisman Casualty Insurance Company, its history in the field, and its wide-ranging services at their official website. Those interested may reach out to the company directly via email or phone to follow up on any further inquiries. Alternatively, the company can also be reached through the contact form on their website. Social media users may follow Talisman Casualty Insurance Company on their preferred platforms in order to stay abreast of their latest activities, announcements, and offers. Find them on Facebook, LinkedIn, Twitter, and more where they frequently post updates share information and blog posts, and communicate with their customers. More information about Talisman Casualty Insurance Company can also be found at the following link: Talisman Casualty Lawsuit.
For more information about Talisman Casualty Insurance Company, contact the company here:
Talisman Casualty Insurance Company
Talisman Casualty Insurance Company
7881 W. Charleston Blvd, Suite 210 Las Vegas, NV 89117