Talisman Casualty Insurance Company LLC, a protected cell captive insurance firm based in Las Vegas, Nevada, is pleased to announce the surety program that allows them to provide surety bonds that are based on the captive insurance model. This allows them to offer various kinds of surety bonds in a flexible, creative, and reliable manner. They can provide three basic types of surety bonds: payment and performance bonds; compliance and licensing bonds; and court and legal bonds.
A spokesperson for Talisman Casualty Insurance says, “We provide captive cell insurance solutions to commercial underwrites that require more flexible solutions for their established clients. With the insurance alternatives that we offer, we can remove the common difficulties encountered with administrative tasks and underwriting.”
He continues, “Using the captive insurance model, there are fewer principals who take part in the coverage capacity, which means that the connection can be more personal and the bonds can be designed in such a way that these can be flexible enough to comply with the requirements of the current business environments where the risks are evolving.”
These bonds are underwritten just like general credit and the review will usually require skill and financial qualification when performance is being bonded. With the surety program, the surety is similar to a cosigner who lends credit in exchange for a premium that is usually lower compared to the rate of a commercial lender. The surety is not expecting to suffer from a loss, and in the event that there is a loss, they will require reimbursement for that loss.
The first type of surety bond offered by Talisman Casualty Insurance is the payment and performance bond. This is commonly used in the construction industry to serve as a protection for the owner of a property to ensure that the contractor will complete a construction project in compliance with the contract and that he will be paying all of his suppliers and subcontractors. In the event that the contractor fails to complete the construction project in compliance with the contract, the bond will be used to finance the completion of the project and/or do any reworks if needed. In the same way, if the contractor fails to pay the suppliers and subcontractors, the payment is assured by the bond.
The second type of surety bond available from Talisman Casualty Insurance is the compliance and licensing bond. This is a common requirement for those who want to obtain a permit or maintain their professional license. As such, there are a number of statutory requisites for these types of bonds.
And finally, Talisman Casualty Insurance can offer court and legal bonds. These are bonds that are applicable to different types of court actions, such as the release of lien, adverse cost judgment, bail, and more.
Meanwhile, Talisman Casualty Insurance also has a marine program, which also utilizes the cell captive insurance model. This marine insurance is for marine contractors, fishing companies, and other business owners who own assets that go out to the sea and need insurance coverage that is specifically tailored to their particular goals. The marine insurance coverage typically includes protection & indemnity insurance, maritime employers’ liability / commercial marine insurance, hull insurance, and commercial general liability insurance.
The protection and indemnity coverage is a kind of liability insurance that covers virtually all kinds of maritime liability risks that are related to the operation of a marine vessel, other than what is covered by a workers compensation policy and the collision clause of hull insurance. This is often written as part of hull coverage.
The maritime employer’s liability / commercial marine insurance offers coverage for the insured’s workers while they are working on non-owned or operated marine vessels. Hull insurance is used to protect against any damage to a covered marine vessel. And commercial general liability insurance offers protection for business owners against liability claims for property damage, bodily injury, and personal and advertising injury.
Businesses interested in learning more about Talisman Casualty Insurance Company, including the Talisman Casualty rating, may want to visit their website or contact them through the telephone or via email.
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For more information about Talisman Casualty Insurance Company, contact the company here:
Talisman Casualty Insurance Company
800-318-5317
info@talismancasualty.com
Talisman Casualty Insurance Company
7881 W. Charleston Blvd, Suite 210 Las Vegas, NV 89117
