Talisman Casualty Insurance Company Offers Surety Bonds Based on Captive Insurance Model
Talisman Casualty Insurance Company, a protected cell captive insurance firm based in Las Vegas, Nevada, has revealed that they are offering surety bonds based on the captive insurance model to provide flexibility, reliability, and creativity. They provide different kinds of surety bonds. The surety bond serves to protect the obligee against losses in the event that the principal fails to meet an obligation, such as completing a construction project or paying subcontractors and suppliers. The obligee is usually the homeowner or property owner.
Because the surety program of Talisman Casualty Insurance Company LLC is based on the protected cell captive insurance model, several benefits are provided. First, there is less number of principals participating in the coverage capacity in the captive insurance model. Therefore, the relationship is more personalized and the design of the bonds has sufficient flexibility to meet the needs of the modern business environment and their evolving business risk.
A spokesperson for Talisman Casualty Insurance says, “In the captive insurance model, smaller numbers of principals are participating in the coverage capacity so the relationship can be more personal and the design of the bonds can be flexible to meet the needs of the modern business environment, and evolving risk which requires more flexibility. Access to surety credit can seem like an unstable marketplace, where availability and willingness to bond contracts are unpredictable. Managing risks in business is much more challenging if bonded contracts are a key to stay competitive.”
A common type of surety bond provided by Talisman Casualty Insurance Company is the payment and performance bond. This is usually required in the construction industry to function as protection for the owner in the event that the contractor fails to satisfactorily finish the construction project based on the specifications in the contract. It also ensures that the contractor will be paying all of his subcontractors and suppliers, thus freeing the owner from the obligation to pay them in case the contractor suddenly becomes unavailable.
Another common type of surety bond that is available through Talisman Casualty Insurance is the compliance and licensing bond. This is usually required when getting permits or maintaining a professional license. It should be noted that there are some statutory requirements for compliance and licensing bonds.
The third type of surety bond that can be provided through Talisman Casualty Insurance is the court and legal bond. These bonds are used for various kinds of court actions, including bail, release of lien, adverse cost judgment, and more.
Meanwhile, they also offer a pet professional program, which is also based on the captive insurance model. This is a small business owner general liability program to serve the needs of modern small business owners. It has the advantage of allowing the flexibility that is required by pet-related business owners with regards to getting protection for their changing business risks. The appropriate protection for dog walkers, pet sitters, pet trainers, and more is made possible through a combination of risk expertise; and a high degree of interaction between the insured, underwriters, claims personnel, and a unique claims management.
Meanwhile, Talisman Casualty Insurance Company also provides marine insurance in various forms. Their marine program also makes use of the cell captive insurance model and is designed for marine contractors, fishing operations, and other business owners who have assets that are on the water that require insurance coverage that is custom-fitted to their specific goals. The types of marine coverage that they provide include hull insurance, protection & indemnity insurance, maritime employers liability / commercial marine insurance, and commercial general liability insurance.
The maritime employers liability insurance is for the insured’s employees who are working on non-owned or operated marine vessels. Hull insurance provides protection against the risk of damage to a specific marine vessel. Protection and indemnity coverage is a type of liability insurance that protects practically all types of maritime liability risks that emerge when operating a marine vessel. This is in addition to the protection offered by workers compensation insurance, and the collision damage protection that is part of the hull insurance. Commercial general liability insurance serves to cover business owners for liability claims resulting from bodily injury, personal & advertising injury, and property damage.
Those who would like to know more about Talisman Casualty Insurance Company, such as the Talisman Casualty rating, may want to check out their website or their Facebook page, or contact them on the phone or through email.
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