Talisman Insurance Is Offering Protected Cell Captive Insurance For Marine Contractors

·4 min read

Carson City, Jan. 25, 2022 (GLOBE NEWSWIRE) -- Carson City, Nevada -

Talisman Casualty Insurance is offering a protected cell captive insurance program designed for marine contractors, fishing operations, and many other business owners who have assets on the water and need coverage that fits their objectives.

The company’s Marine Program focuses on small to medium-sized marine accounts and provides Maritime Employers Liability (MEL), Hull and Protection & Indemnity (Hull / P&I), and Comprehensive General Liability (CGL) with admission into the program’s cell. The Maritime Employers Liability or MEL policy typically provides coverage for an insured’s employees while working on non-owned or operated vessels. Hull Insurance Coverage is protection against damage to a covered vessel. Protection and Indemnity coverage is liability insurance for practically all maritime liability risks associated with the operation of a vessel, other than that covered under a workers compensation policy and under the collision clause in a hull policy. Protection and Indemnity coverage is often written as a package with Hull coverage. The company’s commercial general liability policies protect business owners against claims of liability for bodily injury, property damage, and personal and advertising injury (slander and false advertising).

According to the Talisman Insurance Company, the philosophy of its marine program is to form long-term relationships with its maritime clients and to understand their business, risk management practices, and business forecast so that insurance coverage can always match the fluctuating exposure. The selection of insureds is cultivated with caution, care, the selection of claims adjusters, and other service providers which are done with the 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 insureds who have demonstrated sound management and safety practices.

A spokesperson for the company elaborates on the company’s marine program by saying, “The marine market continues to be under pressure to lower cost in order to stay competitive. Captive insurance will undoubtedly provide the flexibility that readjusting risk management methods and costs will require. We aim to fulfill the market need for high-quality and efficient captive insurance through our superior claims technology and innovative business operations. The industry has heralded us as a leader and a pioneer in captive insurance for several years due to our focused and customer-centric approach to providing service. We are excited to link up with maritime businesses and understand their needs to enable them to get the risk mitigation instruments that they need to succeed in a cutthroat business environment.”

The company has a portfolio of strategies that it can use to fight lawsuits that threaten its clients’ business. Talisman Casualty lawsuit avoidance strategies make use of its advanced claims management technology to enable a quicker response and resolution to claims which could lead to litigation. The company’s claims management of captive cells relies on state-of-the-art claims technology giving immediate feedback of the overall impact of claims and the time needed to make adjustments can be decreased due to the simple aggregation of data within a cell captive. Since claims account for the majority of a captive’s expenses, best practice claims management is one area where captives can distinguish themselves from most traditional insurers.

Talisman Casualty Insurance Company is a protected cell captive insurance company domiciled in Las Vegas, Nevada, that serves the specialty insurance sector by offering protected cells to underwriters who have seasoned books of business and need a regulated vehicle to transfer risk and direct access to capacity through reinsurance and alternative risk finance markets. All coverage provided by Talisman is commercial and is only available to those businesses who participate in an underwriting cell.

Readers who want to find out more about the company’s marine program can contact its marine underwriter Gina Ekyl at the email address gina@marinedepartment.net. For inquiries into its other programs and services, readers can contact the company at the phone number 800-318-5317 or at the email address info@talismancasualty.com.



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For more information about Talisman Casualty Insurance Company, contact the company here:

Talisman Casualty Insurance Company
800-318-5317
info@talismancasualty.com
7881 W. Charleston Blvd, Suite 210 Las Vegas, NV 89117


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