LAS VEGAS, NV / ACCESSWIRE / November 18, 2019 / The Las Vegas, Nevada based Talisman Casualty Insurance Company is pleased to announce that they provide tailored claims management. The insurance specialist offers their clients an alternative risk transfer option for liability and property insurance. More information about the company and the range of insurance services they provide can be found on their website and other online resources.
Talisman Casualty specializes in providing cell captive insurance. As the company explains it, cell captive insurance refers to situations where a parent company creates an insurance company to insure itself. The new insurance company, which is owned and controlled by the company that is being insured, allows the owners of the company to insure their risks at a reduced cost. There are several types of captive insurance, but Talisman Casualty’s services are mostly geared towards Protected Cell Captives.
According to Talisman Casualty, Protected Cell Captives allow the creation of distinct and separate cells that may be owned by the same user or separate cell users. However, each cell and its assets and liabilities have to be legally segregated from the others. Talisman Casualty states that these protected cells can then issue insurance policies and access reinsurance markets, just like standalone insurance companies would.
As part of the variety of services they provide, Talisman Casualty offers a claims management service that enables efficient claim processing for each of the company’s cell programs. A spokesperson for Talisman Casualty says, “Under our claims management 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. We use a number of local adjusters who have all been thoroughly vetted and meet a high ethical standard to give our clients the best claims experience.”
The insurance company has also successfully integrated cutting edge technology into their claims management services. Claims management of captive cells relies on state of the art claims technology that gives immediate feedback on the overall impact of claims. This means that the time needed to make adjustments can be decreased due to the simple aggregation of data within a cell captive.
The spokesperson continues, “There are a number of improvements that modern technology can bring to the claims process and, at Talisman Casualty, we have Proprietary Claims Software that can be integrated into a cell captive program without the hefty cost associated with other licensed software. Our software can be easily streamlined within the cell, which makes it easier for us to give all of our clients a consistently high level of service.”
Talisman Casualty has been in the insurance industry for a while now, and they have consequently gained a great deal of experience with captive insurance. The company is part of a growing industry that includes 7,000 captives or more licensed worldwide with a stunning $55 billion of global captive premiums reported. Within Nevada alone, where Talisman Casualty is located, the insurance company is amongst 200 licensed captives producing $4 billion of captive premium. The company is proud to state that each of Talisman Casualty’s unique protected cells operates as separate business units, each with the flexibility to make adjustments quickly to achieve the greatest underwriting success.
The company’s spokesperson affirms that “Our team at Talisman Casualty has mastered the art of creating and managing captive insurance companies. When you structure and manage it properly, it can allow you to lower premiums and expand capacity as needed. With us, risks that would have otherwise been considered uninsurable will become workable, and we achieve this by providing our clients the flexibility to take greater retentions and protect against unexpected or unmanageable risk by giving them and their sponsors direct access to reinsurance markets. Although establishing a Protected Cell Captive is somewhat less involved than licensing a standard commercial insurer which does business at arms length from their insureds, the regulatory mechanisms which protect the interest of insureds are largely the same.
Those who want to learn more about Talisman Casualty and the various services they provide can find more information on their website. The website also includes more material on cell captive insurance. Additionally, the company encourages interested parties to get in touch with them directly via email, phone or, alternatively, the contact form on their website. More information about the company can also be found at the following link: Talisman Casualty Claims.
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
SOURCE: Talisman Casualty Insurance Company
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