Carson City, July 05, 2022 (GLOBE NEWSWIRE) -- Carson City, Nevada -
Las Vegas, NV-based Talisman Casualty Insurance Company is pleased to offer its expertise to businesses that want to participate in a protected cell captive. This form of risk management allows businesses to take charge of their own risk instead of relying on a traditional insurer, and the process offers a multitude of advantages. With Talisman insurance, businesses can get underway with very little hassle.
Cell captive insurance is typically beneficial for small businesses that may find it difficult to secure insurance through other means due to their perceived risk. Marine contractors, for instance, are considered to be a high risk given the potential for losses to occur, and it is not unusual to find that only larger businesses are able to negotiate with traditional insurance firms. New businesses have to jump through many obstacles to get going, and this time-consuming process can mean they have to delay their operations unnecessarily while they get their insurance sorted.
Fortunately, there is an alternative. With cell captive insurance, a business can sign on as a participant and effectively manage their own risk (or have Talisman Casualty Insurance Company manage it on their behalf). The business in question can insure themselves or have another trusted party get involved in this capacity when they sign on, and each cell is set up in a legally ring-fenced structure.
One of the biggest strengths to this system is the flexibility it offers. As time goes on, several markets may show an upward trend in competitiveness, and the only way for a business to stay ahead of the pack is to recognize issues early and then take immediate action. Thanks to Talisman’s services, such as their highly efficient claims management process, this is now more possible than ever before, and a business can reconfigure wherever necessary with the agency’s aid.
Talisman Casualty Insurance Company recognizes that cell captive insurance may be a completely new field for the vast majority of their community. Despite seeing a steady rise in popularity due to its benefits, most are likely to be familiar with traditional insurers instead. As a result, the company always makes it a point to explain what the field entails as thoroughly as possible when onboarding new clients, a process in which the latter are encouraged to ask as many questions as they want before making any commitments. Talisman is dedicated to ensuring their clients are fully comfortable with every aspect of the services they receive — to the point that the agency can limit its role to whatever capacity the client requires.
Some, for instance, may prefer that Talisman guide them through the whole process, from setup to ongoing management and so on. This is recommended for those new to cell captive insurance. However, the opposite is true as well, with certain clients opting simply to receive access to the agency’s global network of reinsurance markets (and no more). It is always entirely up to the client, and Talisman affirms that this arrangement can be changed or updated at a future date as well. If requested to be more involved, Talisman can help them identify their full spectrum of risk, manage claims, set premiums, execute policies, and much more. Most notably, the agency can ensure the cell is fully compliant with best practices as well as local and federal regulations.
In the beginning, a business will work with Talisman to establish a subsidiary entity that will insure its own operations. This subsidiary, or cell, is legally separate from the main business. All of the agency’s bonds and insurance policies are made available to principals who join a captive as participants. Further, access to reinsurance markets means clients can discuss policies with other parties who have received Talisman’s seal of approval, and they all abide by a similarly high standard of ethics and conduct as the agency itself.
Talisman Casualty Insurance Company understands that the business community will have many questions. As such, the agency is always ready and willing to personally discuss a client’s concerns when they get in touch via phone or email. As a result, anyone can learn more about Talisman lawsuits, claims, risk management strategies, and more at their convenience.
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