Carson City, March 08, 2023 (GLOBE NEWSWIRE) -- Carson City, Nevada -
Talisman Casualty Insurance Company is leveraging its technological expertise to enable more efficient claims processing for clients within its cell programs. Readers are urged to head over to its website to find out more about its range of services, especially the Talisman Casualty lawsuit avoidance strategies that have brought relief to many of its clients.
As a protected cell captive insurance company, Talisman Casualty offers protected cells to underwriters who have seasoned books of business and need a regulated vehicle to transfer risk. They also provide direct access to capacity through reinsurance and alternative risk finance markets. Using these unique protected underwriting cells allows the risk to be segregated, collateralized, and ceded all within a legally ring-fenced structure.
Entry into a protected cell captive structure grants many cost-saving benefits to the company’s clients. One of the biggest advantages is direct access to international reinsurance markets. The insureds can also negotiate the price based on the experience of a particular small to midsize book of business or even find capacity for a new concept.
To ensure that the clients have the fastest and most seamless claims processing experience, Talisman Casualty assigns delegated claims authority only to firms that have extensive claims management experience, know the local markets where claims are made and operate with the highest degree of ethics and integrity.
Moreover, using the company’s proprietary claims software technology, the claims process can be streamlined within the cell, giving its participants a high level of service. Talisman Casualty’s technology can be integrated into a cell captive program without the hefty cost associated with licensed software with large commercial insurers as the target users.
The spokesperson for Talisman Casualty talks about why its claims technology is one of its greatest assets by saying, “Claims end up being the largest chunk of a captive’s expense. So, by using our state-of-the-art Talisman claims management technology, we can help captives do what most traditional insurers can’t. It gives us the invaluable ability to provide immediate feedback on the overall impact of claims. We are also able to significantly reduce the time needed to make adjustments since the data needed to make them is already aggregated within a cell captive.”
Talisman Casualty also offers a surety program with several different bond types including Payment and Performance, Compliance and Licensing, and Court and Legal. A surety bond, or surety for conciseness, is a promise by a guarantor to pay one party, the obligee, a certain amount if a second party, the principal, fails to meet some obligation, such as fulfilling the terms of a contract.