Talisman Casualty Is Offering Tailored Claims Management Of Captive Cells

Las Vegas-based specialty insurance provider Talisman Casualty Insurance is offering tailored claims management of captive cells.

Corporations have long sought ways to reduce financial risk in new business endeavors by making use of the ingenuity of the collective to mitigate harm. Underwriting allowed companies to make use of risk syndication to expand their business while identifying those at the helm who had skin in the game and the most to lose. The roots of the modern insurance industry can be traced back to the expansion of the London shipping industry when companies figured out the mechanisms to manage risk so that they could boldly move forward and explore new trade routes and discover brand new resources.

In the modern information economy, insureds are looking for new ways to manage risk by taking a greater role in the design of the policy while also being able to profit from retaining the risk. Protected cell captive insurance companies are a perfect solution to launch a new product or expand capacity in restricted markets. When the insured wholly owns or controls an insurer, that insurance company is called a captive insurer. A captive insurer serves to provide insurance for the risks of its owners while also allowing its insureds to benefit from the captive insurer's underwriting profits. A cell captive or a sponsored captive maintains underwriting accounts separately for each participant. By establishing unique underwriting cells the risk can be segregated, collateralized, and ceded all within a legally ring-fenced structure.

This innovative form of providing insurance has proven to be quite popular in the country. Many experts believe that half of the property and casualty insurance premium in the United States has captive insurance company involvement. Most S&P 500 companies are also known to utilize captive insurance. However, the use is becoming much broader with insurance agencies, associations, and smaller companies stepping up to the plate and partnering with existing captives.

The protected cell captive insurance company Talisman Casualty Insurance offers protected cells to underwriters who have seasoned books of business and need a regulated vehicle to transfer risk and 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.

Talisman Casualty Insurance claims management processes rely on state-of-the-art claims technology that gives immediate feedback on the overall impact of claims and decreases the time needed to make adjustments due to the simple aggregation of data within a cell captive. Since claims account for the majority of a captive’s expenses, efficient claims management is one area where captives can distinguish themselves from most traditional insurers.

A spokesperson for the company talks about the benefits of Talisman Casualty claims management services by saying, “We use a number of different claims management service providers to enable efficient claim processing for each of our 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.”

The company uses local adjusters who meet high ethical and competent criteria to give participants the best claims experience. The company’s proprietary claims software can be integrated into a cell captive program without the hefty cost associated with licensed software with large commercial insurers as the target users.

Readers can find out more about the company and its claims process by heading over to its website. Those who are looking to file a claim can do so in the manner stated in their policy. In case the claimant has any questions, the company is readily available to answer all claim-related questions either by phone or using a contact form on its website.

Readers can reach out to the company at the phone number 800-318-5317 or at the email address info@talismancasualty.com for general inquiries.


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