Talisman Casualty Insurance Company Explains Cell Captive Claim & Suit
June 10, 2021 at 16:10
The Las Vegas, Nevada based Talisman Casualty Insurance Company is reaching out to the wider community to explain cell captive insurance. The company has made a name for itself by offering alternative risk transfer options for both liability and property insurance. More information about the company and its services can be found at the following link: Talisman Casualty Suit.
Captive insurance is the process through which a parent company creates an insurance company to insure the original parent. This insurance company, which is wholly-owned and controlled by its parent company, is intended to insure the risks of its owners. As Talisman Casualty explains it, captive insurance companies can be classified into three main categories: Single Parent Captives, Group Captives, and Cell Captives.
The services offered by Talisman Casualty fall into the third category (cell captives). Cell captives 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 that belong to a specific individual cell cannot be used to meet the liabilities of any other cell. It must be noted that the core cell company may also have non-core assets, which 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 core cell company, it can create and issue cell shares with respect to any of the cells. While all of the cells may share a common board of directors, it is also possible for each cell to have its own unique board.
Talisman Casualty also asserts that cell captive insurance can be set up very easily. A representative for the company says, “The speed of setup within a cell captive is much quicker than most other methods. Since the company is already in existence and you are only creating a cell to segregate a new risk, you don’t need to jump through too many hoops to get started. Once a cell is no longer needed, the run-off is also much easier, and closure is less time-consuming.”
Talisman Casualty has a lot of experience with captive insurance, as they have over 7,000 captives licensed around the world. In addition to this, the company has $55 billion of global captive premium. Just within Nevada, where the company operates out of, Talisman Casualty has over 200 licensed captives with around $4 billion captive premium. As the company proudly claims, each of Talisman Casualty’s unique protected cells operates as separate business units with the flexibility to make adjustments quickly to achieve the greatest underwriting success.
The company representative says, “When it is properly structured and managed, cell captive insurance can provide lower premiums and expand capacity where it is needed; and at Talisman Casualty, we’ve mastered the art of creating and managing properly structured captive insurance companies. In fact, we can proudly say that we can take some risks — that would otherwise be uninsurable — work within a captive cell insurance structure by providing you and your sponsors' direct access to reinsurance markets.”
They continue, “As an insurance company, we prioritize utmost professionalism in all that we do. From the tremendously organized policies we have to the high quality, high standard claims process, we are one of the most trusted insurance companies across the world. If you are looking for a trustworthy and legitimate insurance provider who does not cut corners, we are your best option. Our team is composed of industry veterans who have worked in insurance for decades, and their expertise can be seen in each step of the process, from the initial consultation to the claims process and beyond.”
Those who wish to learn more about Talisman Casualty Insurance Company and the various services they provide can find more information on the company’s website. Additionally, they encourage interested parties to get in touch with their team directly via email, phone, or the contact form on their website. Talisman Casualty Insurance Company also maintains a presence on Facebook where they frequently post updates, share blog posts, and communicate with their customers. Further details about the company can also be found at the following link: Talisman Casualty Rating.
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