talisman-insurance-companyl-blog

[talisman-insurance-companyl-blog]

Talisman Casualty Insurance Company LLC - Discuss About Surety Program

Talisman Casualty Insurance Company, would like to make residents in the area aware of their surety program. The insurance provider offers a number of programs in order to suit the needs of a wide variety of clients.

A surety bond is a promise made by a guarantor to pay the obligee a certain amount if the principal fails to meet some obligation, such as fulfilling the terms of a contract. The surety bond protects the obligee against losses resulting from the principal’s failure to meet the obligation. There are many different kinds of surety bonds. A surety is not insurance, even if it is provided by insurance companies. The risk is usually underwritten with no expected losses. The relationship between the principal and surety is often much closer than other forms of insurance.

Payment and Performance is one type of bond. “Payment and Performance bonds are often used in the construction industry as a form of protection for an owner that their contractor will complete the job according to the contract and he will pay all of his subs and suppliers,” says Talisman Casualty.

Another type of bond is Compliance and Licensing. Compliance and Licensing bonds are often used to maintain a professional license or to secure permits. There are usually statutory requirements for such bonds. The third type of bond is a Court and Legal bond. These bonds cover a wide range of court actions, including bail, the release of lien, adverse cost judgment, and more. The Las Vegas insurance provider provides all three types of bonds, along with much more. Find out more at the following link: Talisman Casualty Licensing.

Talisman Casualty Insurance is a protected cell captive insurance company that provides service to the specialty insurance sector by offering protected cells to underwriters. All coverage provided by the company is commercial and is only available to those businesses that participate in an underwriting cell. “Talisman Casualty Insurance Company provides all the necessary infrastructure to take advantage of the Protected Cell model,” the company says. “Although the process to establish captives can be challenging and similar to the licensing process of a normal commercial insurer, there are many cost-saving benefits of using the captive structure. The insureds can gain direct access to international reinsurance markets and negotiate pricing based on the experience of a particular small to the midsize book of business or even find capacity for a new concept. Claims can be managed in an efficient manner within the cell and security can be structured where there is little to no risk retained. Each of Talisman’s unique protected cells operates as separate business units, with the flexibility to make adjustments quickly to achieve the greatest underwriting success.” Insurance is one of the oldest businesses and, today, insurance is a complex and ever-changing field. Insureds are looking for better, more effective ways of managing risk by being more involved in the design of the policy. Companies like Talisman Casualty are the perfect solution for businesses that are launching a new product or expanding capacity in restricted markets. Small businesses can turn to Talisman Casualty and their programs for assistance as well. “The small business owner General Liability (GL) program is designed with the modern small business owner in mind,” the company says. “So many people are working both full and part-time in organizational structures that only include themselves or a handful of people. More and more people are working from home and looking to reduce the burden of starting and maintaining a small business. The small business GL protected cell has the flexibility to look at emerging small business markets, such as pet sitters and pet-related services, by combining risk expertise, unique claims management and a high degree of insured interaction with underwriters and claims personnel.”

For more information on the company, visit this link: Talisman Casualty Rating. Get in touch today.

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