Talisman Casualty Reinsurance Offers Comprehensive Marine Program
Las Vegas, Nevada based Talisman Casualty Insurance Company is pleased to alert the community of the availability of their comprehensive marine insurance program. The company hopes that this information will help relevant businesses identify a means by which they may stay in operation while bolstered by an appropriate level of insurance coverage.
A spokesperson of the company says, “Life on the water is much more unpredictable than on land, and this unpredictability means that businesses cannot fully prepare for the dangers that people can encounter when they are on the water. In line with this, our company decided to offer a marine program that aims to provide comprehensive insurance coverage to those who have businesses, facilities, and assets on water. This Talisman Casualty Reinsurance program is perfect for marine contractors, fishing operators and other maritime business owners who may wish to retain risk in exchange for competitive rates and can use these retentions to improve their management practices. When all risk is transferred it is easy to forget about the importance of safety, but our structure is more like a partnership where the goal is to help the insured build a safety culture within their marine businesses.”
As noted on the company’s website, Talisman’s marine program focuses on small-to-medium sized marine accounts and provides Maritime Employers Liability (MEL), Hull and Protection & Indemnity (Hull / P&I) and Comprehensive General Liability (CGL) with admission into the programmed cell. The marine program also encompasses wet energy (drilling and exploration support services) for the offshore energy sector and inland marine which is often referred to as Cargo insurance. Their spokesperson explains that the marine program seeks to form long term relationships with their marine clients and understand their business, risk management practices, and business forecast so that insurance coverage can always match their fluctuating exposure.
The selection of insureds is cultivated with caution and care, and the selection of claims adjusters and other service providers is carried out with a focus on effective and efficient client service. “The targeted strategy utilized by our company has led us to work closely with the management and employees of participating accounts. Furthermore, the Program Risk selection starts with accounts that the group is familiar with, and then involves partnering only with quality insureds who have demonstrated sound management and safety practices,” the spokesperson says.
One of the policies offered under the Maritime Program is the Maritime Employer’s Liability (or the Commercial Marine Insurance), which typically provides coverage for the insured’s employees while working on non-owned or operated vessels. On the other hand, they also offer Hull Insurance Coverage, a comprehensive protection program designed to address damage to covered vessels.
Similarly, Talisman’s Protection and Indemnity Coverage is a form of liability insurance designed for practically all maritime liability risks associated with the operation of a vessel, other than that covered under a workers' compensation policy and under the collision clause in a hull policy. It is often included as a package with Hull coverage.
Lastly, the company also states that they offer a comprehensive Commercial General Liability policy to protect business owners against claims of liability for bodily injury, property damage, and personal injury, and so on. This includes protection against slander and false advertising as well.
The company spokesperson asserts that the Talisman Casualty Insurance Company is an alternative risk transfer option for liability and property insurance. As noted on their website, Talisman Insurance’s policies and bonds are duly licensed, regulated, and authorized insurance transactions governed by the laws of the state of Nevada’s 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. By offering participants access to regulated structures, they can access international reinsurance markets and potentially lower their insurance cost and enhance its coverage to fit specific business objectives,” the company spokesperson says.
Talisman Insurance Company states that protected cell captive insurance companies are a perfect solution by which to launch a new product or expand capacity in restricted markets. By setting up unique underwriting cells, the risk can be segregated, collateralized, and ceded—all within a legal ring-fenced structure. Many experts believe that half of the property and casualty insurance premium in the United States has captive insurance company involvement. In fact, research shows that most S&P 500 companies utilize captive insurance, but its use is becoming much broader with insurance agencies, associations, and smaller companies partnering with existing captives.
Those interested may find more information on the company’s website. They may also connect with Talisman Casualty Insurance Company via social media to stay abreast with their latest news and important announcements. Learn more here: Who is Talisman Casualty Insurance.
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