Talisman Casualty Insurance Company, a cell captive insurance company based out of Nevada, is reaching out to the wider community to explain the range of captive insurance services they provide. Talisman has established itself as a specialist in providing an alternative risk transfer option for liability and property insurance.
As the firm explains, they are a ‘captive insurance’ provider. A captive insurer is an insurance company that is wholly owned and controlled by its insureds. The reason for creating a captive insurance company is to provide risk-mitigation services for its parent company or a group of related companies. The reasons for the creation of a captive insurance company can include the parent company not being able to find an outside firm to insure them against particular business risks, wanting to create tax savings by paying reduced premiums to the captive insurer or obtaining insurance that is either more affordable or has better coverage for the parent company’s risks.
Captive insurers can generally be categorized into two groups. The first are pure captives, which are captive insurers that are owned entirely, either directly or indirectly, by their insureds, and the second are sponsored captives, wherein the captives are owned and controlled by parties unrelated to the insured. A sponsored captive is not formed by its insureds and it does not necessarily pool its insureds' risks. More often than not, sponsored captives do not require the insureds to pay in capital but instead ask for an access fee. Sponsored captives are also sometimes known as ‘rental captives.’
Talisman Casualty Insurance specializes in the latter: sponsored (or rental) captives. Sponsored captive insurance is a viable structure for those who wish to avoid managing the insurance functions of a cell captive while still taking advantage of the many benefits of captive insurance. As the company explains, a well-structured captive insurance program can provide improved risk management for organizations.
The risk management benefits of captive insurance companies can include increased financial efficiency of risk management, more flexibility in responding to changes in risk retention and risk transfer strategies, obtaining coverage for risks that are not usually available or economically feasible in the commercial insurance markets, obtaining access to reinsurance markets, reducing insurance administration costs and recapturing underwriting profits, and more.
A representative for Talisman Casualty Insurance Company says, “Captive insurance can be a complex process, but when you are working with our team, you can rest assured that you will have experts with you at every step of the process. All of our captive insurance programs are carefully crafted to ensure that they meet the needs of our clients and their stakeholders. Our team is composed of a number of leading insurance industry experts who specialize in captive insurance companies, which means that we are able to guarantee you a high level of quality. Not only can we resolve your business issues, we can also help you take risks you wouldn’t otherwise be able to take.”
Talisman Casualty Insurance Company explains that protected cell captive insurance companies can also be a perfect solution to launch a new product or expand capacity in restricted markets. By establishing unique underwriting cells, the risk can be segregated, collateralized, and ceded — all within a legally ring-fenced structure. Most S&P 500 companies utilized captive insurance, but the use is becoming much broader today, with insurance agencies, associations, and smaller companies partnering with existing captives.
Talisman Casualty Insurance Company boasts a vast amount of experience with captive insurance, having explored the industry for several years. The firm is proud to have over 7,000 captives licensed around the world, with the global captive premium amounting to over $55 billion. The company operates out of Nevada, and within the state, Talisman Casualty Insurance Company has over 200 licensed captives with around $4 billion captive premiums.
Those who want to learn more about Talisman Casualty and the wide range of insurance programs that are available may get started by visiting the firm’s official website. Additionally, the firm encourages interested parties to directly get in touch with them over the phone or via email. More information about Talisman Casualty Insurance Company can also be found at the following link: Talisman Claims.
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