Talisman Casualty Describes How Their Captive Sponsored Collective Works and Their Unique Talisman Claims Process

LAS VEGAS, NV / ACCESSWIRE / December 5, 2019 / A Nevada segregated cell insurer wants people to know a little bit more about their unique claims process. The name of that company is Talisman Casualty Insurance Company, LLC. Their claims process is unique because they are not a traditional type of insurance company. They offer an alternative risk transfer option for liability and property insurance.

Talisman Casualty Insurance Company, LLC. is known as a captive sponsored insurance company. Their insurance policies and bonds are duly licensed, regulated, and authorized insurance transactions governed by the laws of the state of Nevada. They operate under Nevada license # 124597.

A company spokesperson described how the company works by saying, “A customer cannot just come to the company and do an insurance transaction with us. They first must agree to join the captive as participants by executing a participation agreement and then becoming a shareholder. Once they have joined, they will then be granted access to regulated structures that act as a portal to international reinsurance markets. This gives the opportunity for captive members to save a lot of money over more traditional insurance options. If a customer does not want to manage to get insurance through the captive themselves, we will be more than happy to arrange to do that for the customer.”

The way they operate is what makes their claims process so unique. They have what they call a tailored claims management system. It involves many different claims management service providers. This only includes those firms that can prove they have extensive claims management experience. These claims management service providers must also know the local insurance markets and operate with a high degree of integrity and ethics. The company also makes good use of state-of-the-art claims technology. Many times their customers get immediate feedback as a result. Those at Talisman Casualty realize that claims make up most of their captive’s expenses. As a result of that, they can initiate best claims management practices that help further distinguish them from more traditional insurance companies as far as expenses go.

To make things easier for a captive member to understand, each individual policy that is purchased from the captive cell has specific instructions on how to process a claim. There is also proprietary software that can be added to the cell captive program to help with this. Talisman casualty even has a form on its website to help initiate a claim.

One of the company’s other main products is the issuing of surety bonds. The company spokesperson talked about this more by saying, “One of our most popular services is issuing surety bonds. Many of these products are tailored to an individual contractor or company. That way it helps them give their customers specific performance guaranties so that customer is comfortable signing a contract with them. Often these contracts are sizable and the contractor would not get them without backing up their performance guaranties up with a surety bond.”

The company warns customers to not make the mistake of thinking that surety bonds take the place of liability insurance. Even though they do give a prospective customer some peace of mind when contracting with a company. Surety bonds are three-party contracts. Liability insurance is just a two-party contract that protects a business from lawsuits and involves just the insurance company and the insured. That’s not the case with surety bonds. These involve the underwriter, the contractor and the obligee. The obligee is the designated party that gets paid when the contractor does not perform according to what was agreed upon in a written contract.

Some of their customers wonder who owns Talisman Casualty Insurance Company, LLC. That type of information can be found on their website. The website also goes into further detail about how the company works, the types of products they offer those that join the captive and more in-depth explanations of their claims process. Their website also points out that they offer pet professional and marine insurance programs.

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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