Talisman Casualty Insurance Company - What Is A Cell Captive Insurance Company?
If you don't know what cell captive insurance is, Las Vegas-based Talisman Casualty Insurance Company can help. Talisman is a leading source for alternative risk transfer options for both property and liability insurance. You can find out more about Talisman Casualty and the services it offers on the Talisman Casualty Claims website. You can also find information about contacting the company on the site.
Captive insurance is a situation wherein a company creates its own insurance company to ensure the parent company it was spawned from. That might sound complicated, but it's actually really ingenious. This new insurance company exists to protect its owners from risk but it is controlled entirely by that parent company. Captive insurance companies fit into three different categories: Cell Captives, Single Parent Captives, and Group Captives.
Talisman Casualty is a cell captive insurance company. In addition to a core cell, cell captive companies can have any number of other cell entities. Each cell entity is legally separate, representing a different client, and each has its own assets and liabilities. Assets that belong to a specific cell cannot be used to meet the liabilities of other cells. However, the core cell company (in this case, Talisman Casualty) can also have general assets that could be used to meet liabilities that aren't attributed to a single specific cell.
Different cell captive companies are run in different ways. Depending on structure, the company can create cell shares for any of the cells it controls and issue them from there. Each cell could have its own board of directors, or all of the cells could share a board under the cell captive company. Whatever way you choose to run the company, a cell captive insurance company is a smart choice for your business insurance needs. It's also a choice that more and more people are making.
The cell captive insurance industry has grown to 7,000 captives and $55 billion in premiums around the world. Within that booming industry, Talisman Casualty is one of the most experienced insurance companies around. Talisman's home state of Nevada boasts over 200 captives licensed worth nearly $4 billion in premiums. This is a massive sub-industry with a huge amount of untapped potential just waiting to be drawn upon. And no company has a better grasp of cell captive insurance structure than Talisman Casualty.
The best thing about captive cell insurance is that, since each cell operates as its own business, it emphasizes flexibility and allows for quick adjustments which can lead to huge underwriting success. Adjustments can be made to any individual cell without affecting other cells. In this way, Talisman is set to succeed, and that is passed on to the company's clients and insureds.
Talisman Casualty focuses on captive insurance because it provides lower premiums and expanded capacity. This is in large part thanks to its direct access to international reinsurance markets, which also allows the company to take greater risks than would make sense otherwise. None of this would be possible if Talisman did not operate within a captive cell insurance structure. Talisman has mastered the art of creating and managing captive insurance companies.
The process can be intimidating, but because of Talisman Casualty's expertise in the field, it can set up a new cell captive insurance swiftly and easily. The core company already exists, and Talisman just creates a new cell that segregates the risk of that specific cell captive. This structure also makes the process of closing cells easier once they're no longer needed. Every step is able to be taken quicker than the competition at Talisman Casualty, and without losing any quality.
With cell captive insurance, the business being insured has greater control over a variety of factors. The company will not need to pay a whole range of premiums based on things that aren't actually correlated. This means that risk can be better managed, and the pricing scheme for cell captive insurance can better reflect reality.
Talisman Casualty has built the infrastructure to allow any business to enjoy the advantages of a protected cell captive model. Establishing captive cells can be a complex process, but it pays for itself with cost-saving benefits. For example, Talisman provides access to reinsurance markets that are international, which allows for price negotiation. Talisman structures security in a way that ensures very little or even no risk for businesses. It also employs an efficient approach to claim management.
If you've been considering protected cell captives for your business' insurance needs, you should think about contacting Talisman Casualty Insurance Company. You can learn much more about the company and its whole range of services on its website. You can reach Talisman Casualty Insurance Company directly with questions or thoughts via email or the form on the company's website.
A Segregated Cell Insurer
Talisman Casualty provides property and liability insurance via alternative risk transfer options. All of Talisman's bonds and policies are authorized, licensed, and regulated by Nevada state law. Principals may join the captive and become a shareholder by executing a participation agreement. Regulated structures provide access to international reinsurance markets, enhanced coverage, and lower insurance costs. Talisman maintains surplus, reserves, financial, and capital records as per regulations and provisions.
The state of Nevada's department of insurance licenses regulates and authorizes all of Talisman's bonds and insurance policies. Insurance policies and bonds may be accessed by any principal who executes a participation agreement and becomes a shareholder, thus joining the captive. Talisman's capital, reserves, surplus, and financial records are maintained as required by the regulations and provisions of NRS Chapter 694 C.
Our Business Model: The Protected Cell Captive Model
Insurance as a concept goes all the way back to the days of hunter-gatherers, where roaming groups shared a kill to minimize the risk of starvation, injury, or death. The London shipping industry introduced a huge advance in the form of underwriting. This allowed deeper investments in shipping, which led to new resources and expanded trade routes.