Marine Program By Talisman Allows Marine Clients To Take Profitable Risks
September 14, 2023 at 18:16
Carson City, Nevada -
Las Vegas, Nevada-based Talisman Casualty Insurance Company would like to reach out to businesses that may be interested in the company’s marine insurance program. This cell captive insurance program is designed to offer marine contractors, fishing operations, and other marine industry professionals a wide range of insurance options that keeps business owners with assets on the water protected. The program provides coverage that meets the unique needs of such businesses and individuals, protecting various businesses in the marine industry from losses.
The marine program mainly focuses on small-to-medium-sized marine accounts. It provides Maritime Employers Liability (MEL), Hull and Protection & Indemnity (Hull / P&I), and Comprehensive General Liability (CGL) with admission into the program cell. These types of insurance are all meant to provide coverage in any of a wide range of situations.
Maritime Employers Liability, or Commercial Marine Insurance, provides coverage for an Insured’s employees while working on non-owned or operated vessels. It protects against losses that may be associated with the actions of employees on a vessel that the employer does not own or otherwise have any sort of control over.
Hull Insurance provides coverage in the event of damage to a covered vessel, while Protection and indemnity Coverage is liability coverage for most (if not all) maritime liability risks associated with operating a marine vessel. Commercial General Liability protects business owners against claims of liability for bodily injury, property damage, and personal and advertising injury. For more information on the marine program by Talisman, read about all the options that the company has available for marine businesses.
“The program philosophy is to form long-term relationships with their maritime clients and understand their business, risk management practices, and business forecast so that insurance coverage can always match the fluctuating exposure,” says Talisman Casualty Insurance Company.
They continue, “The selection of insureds is cultivated with great care, and the selection of claims adjusters and other service providers is done with a 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 then involves partnering only with the quality insured’s who have demonstrated sound management and safety practices.”
Talisman Casualty Insurance Company offers protected cell captive insurance to its Nevada-based clients. The company is among the top providers of insurance for marine clients, providing comprehensive coverage for a wide range of clients with highly specific and unique needs. The company has served the specialty insurance sector for years by providing protected cells to a highly select group of underwriters.
All of Talisman’s services cater to commercial clients who participate in an underwriting cell. Talisman provides its clients with all the necessary tools and resources to take advantage of the unique insurance model Talisman is involved with. While it may be relatively challenging to establish a captive, there are a number of benefits to using this structure, and Talisman is always happy to help clients find the best way to make use of all the resources available to them. The marine program is just one of the company’s many insurance programs.
In addition to providing unique, flexible ways of protecting businesses from risk, Talisman Casualty provides a more efficient way of managing claims. Additionally, security can be structured in such a way as to minimize risk, assuming that is the desire of a program’s participants.
“Protected cell captive insurance companies are a perfect solution to launch a new product or expand capacity in restricted markets,” Talisman Casualty says. “By establishing unique underwriting cells, the risk can be segregated, collateralized and ceded, all within a legally ring-fenced structure. Many experts believe that half of the property and casualty insurance premium in the United States has captive insurance company involvement. Most S&P 500 companies utilize captive insurance, but the use is becoming much broader as insurance agencies, associations, and smaller companies partner with existing captives.”
Answers to almost any question a client might have about the company can be found at the following link: Talisman Lawsuits.
For more information about Talisman Casualty Insurance Company, contact the company here:
Talisman Casualty Insurance Company
7881 W. Charleston Blvd, Suite 210 Las Vegas, NV 89117