Talisman Casualty Insurance is top rated for its surety bond program
Carson City, Nevada –
Talisman Casualty Insurance Company LLC, a captive insurance adjuster based in Las Vegas, Nevada, shares more information about its surety bond program. As a specialty insurance company, Talisman Casualty Insurance Company offers its customers an alternative risk transfer option for liability insurance and property insurance. More information about the company can be found at the following link: Talisman Insurance.
Talisman Casualty Insurance Company explains that a bond—sometimes simply called a bond—is a written agreement guaranteeing compliance, payment, or performance of an act. Unlike other forms of insurance, surety bonds are unique because they involve an agreement between three parties.
The first is the principal who buys the obligation and undertakes to perform an act as promised. Then there is the surety, which is the insurance company that guarantees that the obligation will be performed. If the principal does not perform the act promised, the surety is contractually liable for the losses suffered. Finally, there is the creditor who demands the benefit of the suretyship. In the case of most surety bonds, the obligee is a local, state or federal government organization.
As the company explains, because in the captive insurance model there are fewer principals who participate in hedging capacity, the relationship between creditor and principal can be more personal. This in turn can ensure that more flexible bonds can be provided to meet the needs of the modern trading environment where risks are changing.
A representative from Talisman Casualty Insurance Company says, “The unique advantage of using surety bond programs is that you have several different types of surety bonds you can take advantage of. It should also be understood that while the bond is primarily provided by the insurance industry, it is not really insurance, as the risk is usually underwritten with no expected losses, and the relationship between the principal and the surety is often much narrower than other forms of insurance.
Talisman Casualty Insurance Company provides bonds of different types. Payment and performance bonds are often used in the construction industry as a form of protection for a homeowner that their contractor will complete the work according to the contract and pay all of their subcontractors and suppliers. Compliance and license bonds are often used to maintain a professional license or to obtain permits; there are legal requirements for these types of bonds. Finally, judicial and legal obligations cover a wide range of legal actions, including release on bail, release of lien, adverse judgment of costs, etc.
Although they provide surety bonds and other forms of insurance, Talisman Casualty Insurance Company LLC primarily specializes in a type of insurance known as “captive insurance” where an insurance business is established that is controlled and owned by its own policyholders.
The company has established itself as a leader in the captive insurance industry, with over 7,000 licensed captives worldwide with a staggering $55 billion in global captive premiums. In the state of Nevada, where the company is based and operates, it has over 204 licensed captives and over $4 billion in premium captives, all of which are properly structured and managed, thus providing lower premiums to policyholders.
Learn more about Talisman Casualty Insurance Company, its history in the field and its wide range of services on its official website. Interested persons are encouraged to contact one of the company’s representatives directly by email or phone to follow up on any other inquiries. Talisman Casualty Insurance Company is also present on social media and social media users can follow them on their favorite platforms to keep up to date with their latest activities, announcements and offers. More information about Talisman Casualty Insurance Company can also be found at the following link: Legal Actions and Talisman Programs.
For more information about Talisman Casualty Insurance Company, contact the company here:
Talisman Multi-Risk Insurance Company
7881 W. Charleston Blvd, Suite 210 Las Vegas, NV 89117