Record Growth In Captive Insurance Market As Announced By Talisman Casualty Insurance Company

Captive Insurance

Las Vegas, Nevada based Talisman Casualty Insurance Company, a market-leading protected cell captive insurer that offers alternative risk transfer options for liability and property insurance, has announced that the industry has seen record rises in the captive insurance market. The firm is ideally placed to help insurance agents who represent companies of all sizes find ideal coverage for their commercial insurance needs.

A spokesperson for the company said, “Following the trend of most Fortune 500 companies utilizing captive insurance, which provides benefits to their bottom line, other firms are looking into their own options. We believe that the move to cell captive insurance through our firm will continue to grow as smart business owners seek to minimize expenditure on premiums for non-related factors which will not affect their business.”

The firm, which is governed by the laws of the state of Nevada, helps underwriters with money-saving solutions that provide flexible, properly structured, and managed captive insurance. Many companies have found this to mean that they can lower their premiums and, if necessary, expand the capacity where they need it. Some find that their specific needs, which are otherwise considered uninsurable by traditional insurance carriers, can work within a captive through the company’s reach and direct access to reinsurance markets.

They were recently featured on Street Insider for the advice they publically shared regarding the benefits of choosing captive insurance for small and medium-sized enterprises, as it can provide lower premiums and expand capacity. The article highlights that protective cell captive insurance companies are a perfect solution to launch a new product or expand capacity in restricted markets. By establishing unique underwriting cells, the risk can be segregated, collateralized, and ceded within a legally ring-fenced structure. In fact, many experts believe that half of the property and casualty insurance premium in the United States has captive insurance company involvement.

Currently, Talisman Casualty Insurance Company focuses on three key areas of business: their Surety Program, Pet Professional Coverage, and their Marine Program. As widely noted in the market, surety products are slow to respond to the evolving risk transfer preference in financed transactions, but captive insurers may hold the key. The firm are in an excellent position to help those seeking Payment and Performance bonds, often used in the construction industry for protection by an owner who needs to be confident that their contractor will both complete the job according to their contract and, additionally, that they will pay for all of their own subcontractors and suppliers in full.

A new specialty market in Pet Professional Coverage is growing for those involved in the Pet Economy. The firm provides specialty insurance to groomers and boarders, breeders to trainers, and pet walkers and sitters because they all need coverage. Coverage means that these business professions can manage their own business risk at a competitive price and obtain coverage options not typically available for standard business owner policies.

The firm’s Marine Program is a cell captive that is designed for marine contractors, fishing operations, and many other business owners who have assets on the water and need coverage that fits their objectives. As with their other programs, the firm forms long term relationships with their maritime clients in order to understand their business, risk management practices, and business forecast so that insurance coverage can always match the fluctuating exposure. They can provide Maritime Employers Liability (MEL), Hull and Protection & Indemnity (Hull / P&I), and Comprehensive General Liability (CGL) with admission to their program cell.

With the rising costs of insurance premiums, many purchasing departments are interested in how self-insurance can help them. All coverage provided by Talisman Casualty Insurance Company is commercial and is only available to those businesses that participate in an underwriting cell.

The firm also provides Rent-A-Captive services to those who want to avoid managing the insurance function of a cell captive, a perfect solution for a Managing General Agent (MGA). The firm performs many functions, such as settling claims and use their expertise to assist firms who rely upon their expertise and locational reach. Talisman Casualty uses state of the art technology to help companies and insurance agents find the coverage they need, using their vast resources and analytics to manage risk more intelligently. Learn more here: Talisman Casualty Claims.

They also provide niche product services, like extended warranties, through a Protected Cell Company (PCC), and serve as a reinsurer to nontraditional insurance offerings. They are often approached to set up an Association PPC for associations who do not want to go through the expense of setting up their own captive cell. A spokesperson for the company stated, “Our mission is to help our own clients and underwriters who have seasoned books of business find the regulated vehicles to transfer their risk. We also help them access more capacity through our direct access to reinsurance and alternative risk finance markets.”

Their direct contact with insured customers gives them the edge in understanding how the market is evolving. This, in turn, gives greater flexibility to their network to manage their risks and innovate products that allow them to make bottom-line differences. Thanks to their close alliances with the management and employees of participating accounts in their captive cells, they are able to gain unique insights into the needs of fluctuating exposure and new risks which helps keep them at the forefront of the industry.

Complete information about their products and services can be found on their website, which also provides further contact information. Interested parties may connect with Talisman Casualty online to stay up to date with their latest news and important announcements.

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

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