LAS VEGAS, NV / ACCESSWIRE / September 22, 2020 / Talisman Casualty Insurance Company LLC, a Las Vegas, Nevada based insurance company, would like to offer their surety programs to interested parties. A surety bond is a promise by a surety or guarantor to pay one party a certain amount if the second party fails to meet an obligation, such as fulfilling the terms of a contract. The bond protects the obligee against all losses that may result from the principal’s failure to meet the obligation.
There are many different kinds of surety bonds, and Talisman Casualty Insurance has a wide range of options to choose from. Payment and performance bonds are one type of bond offered by the insurance provider. They are often used in the construction industry as a form of protection for an owner; ensuring that their contractor will complete the job, according to the contract, and that they will pay all of their subs and suppliers.
Talisman Casualty also offers compliance and licensing bonds, which are often used to maintain professional licenses or to obtain permits. There are usually statutory requirements for these types of bonds. The third type of surety bond offered by Talisman Casualty are court and legal bonds. These bonds can cover a wide range of court actions including bail, release of lien, adverse cost judgment, and more.
Surety is usually not considered insurance, despite being provided primarily by the insurance industry. With surety, risk is typically underwritten with no expected losses. The relationship between the principal and surety is commonly much closer than with other forms of insurance.
Located in Nevada, Talisman Casualty also offers protected captive insurance. The insurance provider offers service to the specialty insurance sector by offering protected cells to the underwriters. The company only provides commercial coverage, which is solely available to businesses that participate in an underwriting cell. Read more at the following link: Talisman Casualty Suit.
“We provide all the infrastructure necessary to take advantage of the protected cell model,” says the insurance provider. “Although the process to establish captives can be challenging and similar to the licensing process of a normal commercial insurer, there are many cost-saving benefits to using the captive structure. The insureds can gain direct access to international reinsurance markets and negotiate pricing based on experience of a particular small to midsize book of business or even find capacity for a new concept. Claims can be managed in an efficient manner within the cell, and security can be structured where there is little to no risk retained. Each of Talisman’s unique protected cells operates as separate business units – with the flexibility to make adjustments quickly to achieve the greatest underwriting success.”
The insurance industry is one of the oldest fields, and therefore it has seen a great deal of change. Even today, it continues to evolve at a great pace. Insureds are always looking for more effective ways of managing risk, and they have found that the best way of doing this is to be more involved in the design of their insurance policy.
Talisman has a number of programs designed to help small businesses. Their small business owner general liability program is designed with the modern small business owner in mind. Many people work both full and part time in the organizational structures that only include themselves or a small handful of people. This is notable today for the fact that more and more people are working from home, especially with the COVID-19 crisis being as it is, in order to reduce the burden of starting and maintaining a small business.
The insurance provider also offers a marine program that focuses on the small-to-medium sized marine accounts. “The program philosophy is to form long term relationships with their maritime clients and to understand their business, risk management practices, and business forecast so that insurance coverage can always match the fluctuating exposure,” says the company. “The selection of insureds is cultivated with caution and care, and the selection of claims adjusters and other service providers is done with the focus on effective and efficient client service. This strategy has led to close working alliances with the management and employees of participating accounts. Program Risk selection starts with accounts familiar to the group, and it then involves partnering only with quality insureds who have demonstrated sound management and safety practices.”
For more information on Talisman Casualty Insurance Company LLC, visit their site. Interested parties are welcome to contact the firm’s representatives to follow up on any further inquiries as well.
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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