Talisman Casualty Insurance Company talks about Cell Captive Claim

 

Talisman Casualty Explain The Concept Of Cell Captive Claim

Las Vegas, Nevada based insurance provider Talisman Casualty is reaching out to the wider community to explain cell captive insurance. The firm offers an alternative risk transfer option for liability and property insurance. More information about the company and its services can be found at the following link: Talisman Casualty Claims.

According to Talisman Casualty, captive insurance refers to a situation where a parent company creates an insurance company to ensure the original parent. This insurance company, owned and controlled in its entirety by the parent company is intended to ensure the risks of its owners. As Talisman Casualty explains captive insurance companies can be classified into three main categories: Single Parent Captives, Group Captives, and Cell Captives.

Talisman Casualty falls into the third category: cell captives. These are entities that have a core cell along with an indefinite number of other cell entities. These cell entities are kept legally separate from each other and they all have their own dedicated assets and liabilities. These assets (which belong to a specific individual cell) cannot be used to meet the liabilities of any other cell. According to Talisman Casualty, the core cell company may also have non-core assets that may be made available to meet liabilities that cannot be attributed to another single cell. Depending on the exact structure and the chosen method of operation of the company, it can create and issue cell shares with respect to any of the cells. All of the cells may share a common board of directors, but it is also possible for each cell to have its own unique board.

Talisman Casualty boasts a great deal of experience with captive insurance, and are part of a thriving industry that has over 7,000 captives licensed around the world and $55 billion of global captive premiums. In Nevada, Talisman Casualty’s domicile, the state boasts over 200 licensed captives with around $4 billion of captive premium. The cells set up by sponsors or insureds are unique and operate as a separate business unit with the flexibility to make adjustments quickly to achieve the greatest underwriting success.

A representative for Talisman Casualty says, “When it is properly structured and managed, captive insurance can provide lower premiums and expand capacity where it is needed—that is what we do here at Talisman Casualty. We’ve mastered the art of creating and managing properly structured captive insurance companies. We can take some risks, which may normally be considered uninsurable, work within a captive cell insurance structure by providing you and your sponsors' direct access to reinsurance markets.”

According to Talisman Casualty cell, captive insurance can be set up very easily. The company’s representative says, “The speed of setup within a cell captive is much quicker. This is because the company is already in existence and you are only creating a cell to segregate a new risk. Once a cell is no longer needed, for whatever reason, run-off is also much easier and closure is less time-consuming.”

Cell captive insurance also allows for more control over a number of factors. The company being insured does not have to pay multiple premiums based on a number of non-correlated factors of the market. According to Talisman Casualty, this allows parent companies to be insured to allow their risk management efforts to be rewarded with a pricing scheme that reflects a better experience.

The company’s representative says, “We provide you with all the necessary infrastructure so that you can take advantage of the Protected Cell model. While the process to establish captives can be just as complex as licensing a normal commercial insurer, there are many cost-saving benefits of using the captive structure. With us, you can gain direct access to international reinsurance markets and negotiate the pricing. We will also ensure that your claims are managed in a much more efficient manner within the cell, and we will structure security in such a way that there is little to no risk for you.”

Those who want to learn more about Talisman Casualty and the variety of services the firm provides can find more information on their website. Additionally, interested parties are encouraged to contact Talisman Casualty directly, via the form on their website or email, for further details.

For more information about Talisman Casualty Insurance Company, contact the company here:

Talisman Casualty Insurance Company
800-318-5317

7881 W. Charleston Blvd, Suite 210 Las Vegas, NV 89117