The Marine Program by Talisman Casualty Helps Maritime Companies Face the Industry's Toughest Challenges
Jan 23, 2023
January 23, 2023 - /PressAdvantage/ - 
Talisman Casualty Insurance Company is offering marine contractors, fishing charters, vessel operators, and many other types of businesses who have waterborne assets, insurance coverage through participation in its captive cell programs. The company can customize its programs to offer its clients coverage that fits their current objectives and business needs.
A representative for Talisman Casualty Insurance talks about the need for maritime businesses to have a risk management strategy in place by saying, “If you have been active in this industry for a while, you have undoubtedly just been through one of its worst periods. The coronavirus pandemic shut down maritime activity across the world as the risk of transmission from port to port was deemed to be too high by various countries’ regulatory bodies. You may also have seen many of your competitors being forced to shut down their businesses due to the lack of demand for cargo and shipping. It was a stark once-in-a-lifetime reminder of how some challenges might be truly, completely, out of your control. By participating in the marine program by Talisman Casualty, you can give your business the lifeline it needs to survive if difficult times were to fall on the industry again. Give us a call today and let us help you set up the risk management structure you need to fearlessly run your shipping or fishing business to the best of your ability.”
Talisman Casualty Insurance Company’s marine program aims to establish long-term relationships with its maritime clients. The company’s protected captive cell insurance professionals closely study its clients’ businesses, including risk management methods and forecasts. This gives them the information needed to provide customized insurance coverage to address ever-changing risk exposures. So, when the marine market eventually faces volatility, the cell captive approach gives businesses the flexibility to quickly adjust their insurance program to meet the challenges of changing cash flow and exposure.
Talisman Casualty’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 cell. Maritime Employers’ Liability policies typically provide 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 the collision clause in a hull policy. It is often written as a package with Hull coverage. 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).
Talisman Casualty’s selection of insureds is cultivated with caution and care, and the selection of claims adjusters and other service providers is done with a focus on 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.
The company also has advanced claims management technology that allows it to give its clients immediate feedback on the overall impact of claims. This reduces the time needed to make adjustments due to the simple aggregation of data within a cell captive. Since claims account for the majority of a captive’s expenses, Talisman Casualty’s best practice claims management allows captives participating in its protected cells to distinguish themselves from most traditional insurers. The company gives delegated claims authority only to firms that have extensive claims management experience, know their local markets, and operate with the highest degree of ethics and integrity.
For further details about Talisman Casualty claims management and its marine insurance program, readers can write to the company’s marine underwriter Gina Ekyl at [email protected]. For general inquiries, the company can be contacted at (800) 318-5317 or [email protected].
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For more information about Talisman Casualty Insurance Company, contact the company here:
Talisman Casualty Insurance Company
800-318-5317
[email protected]
7881 W. Charleston Blvd, Suite 210 Las Vegas, NV 89117
ReleaseID: 60057173
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