Talisman Casualty Insurance Company LLC Offers Marine Program
Las Vegas, NV based Talisman Casualty Insurance Company LLC is pleased to announce that they are offering a comprehensive marine program for small to medium-sized accounts.
The marine program contains Maritime Employers Liability (MEL), Hull and Protection & Indemnity (Hull / P&I), and Comprehensive General Liability (CGL). MEL covers the insured’s employees while they are working on non-owned or operated vessels. Meanwhile, Hull Insurance covers the vessels themselves, and P&I covers pretty much all maritime liability risks that are not already covered by the workers' compensation and a hull policy. CGL, on the other hand, protects the insured against claims of liability for bodily injury, property damage, personal injury, and more.
As noted on the company’s website, the marine program was designed with the goal of forming long term relationships with maritime clients in mind. It allows Talisman to understand their clients’ businesses, risk management practices, and business forecasts. Talisman can then use this knowledge to provide insurance coverage that matches the client’s fluctuating exposure. The firm is cautious and careful in selecting insureds, and they choose claim adjusters and service providers based on how efficient their client service can be. In fact, Talisman selects insureds starting from accounts that the group is already familiar with, and they partner only with insureds who have shown that they possess good management and safety practices. This approach has helped Talisman Casualty form tightly knit alliances with the management and employees of participating accounts. Those who are a part of the marine market are experiencing huge pressure to lower costs so that they can stay competitive. Under the marine program of Talisman Casualty, they will be able to receive the flexibility that they need in order to readjust risk management methods and costs.
Talisman is a captive insurance company. They provide captive insurance as an alternative risk transfer option to liability and property insurance. Captive insurance can provide a lower premium compared to the usual insurance policies as long as they are well structured and managed. This type of insurance can also expand its capacity when needed and can cover risks that are considered to be uninsurable under traditional insurance. Captive insurance has better flexibility, a faster startup speed, and more control. It also provides participants access to regulated structures and international reinsurance markets. This allows them to enhance their insurance coverages to fit their specific needs and can even lead to lower insurance costs. People who wish to avail themselves of the company’s captive insurance services can do so by joining the Talisman captive as participants through executing a participation agreement and becoming a shareholder. Once they have done so, Talisman bonds and insurance policies will be made available to them. Furthermore, Talisman insurance policies and bonds are properly licensed and regulated under the laws of the state of Nevada.
Another program that can be found under Talisman's captive insurance is the surety program. Surety bonds are promises made by guarantors that will provide payment to the obligees if the principals are not able to fulfill some obligations such as satisfying the terms and conditions of a contract. These bonds are used to protect the obligees against damages and losses that they may incur when the principals fail to meet their obligations. There are several types of surety bonds, such as payment and performance bonds, compliance and licensing bonds, and court and legal bonds. Payment and performance bonds are commonly used in the construction industry to protect owners and to make sure that contractors will do their job and that they will pay all subs and suppliers. Meanwhile, Compliance and Licensing bonds are commonly used for obtaining permits and maintaining professional licenses. Last but not the least, Court and legal bonds are used to deal with court actions such as bail, adverse cost judgment, the release of lien, and many others.
Although surety bonds are usually provided by the insurance industry, they are technically not a form of insurance. This means that this type of bond can seem unreliable and unstable at times because availability and willingness to bond contracts cannot be predicted. However, when surety bonds are used within captive insurance models, there are smaller numbers of principals who are involved in the bond coverage capacity. This allows the relationships between the several parties in surety bonds to be more personal. Bonds can also be designed to be more flexible to suit the needs of the parties involved in the modern business environment where risk is constantly evolving.
More details can be found by following this link: Talisman Casualty Lawsuit. Clients who want to learn more about the benefits of captive insurance may also visit the Talisman Casualty Insurance Company website to get started.
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