12 April 2023Analysis

Talisman promotes claims management for PCCs

Talisman Casualty Insurance Company is offering insureds tailored claims management for all their protected captive cell insurance needs.

The company said that it is helping businesses operating in industries that have been ignored by traditional insurers, by helping businesses mitigate risk by entering a captive cell.

According to Talisman, as an alternative risk transfer option for liability and property insurance, the company’s bonds, and insurance policies are made available to principals who join the captive as participants by executing a participation agreement and becoming a shareholder.

Talisman said that when it comes to claims management for its insureds, often operating in innovative, challenging, and niche businesses, it has implemented effective claims technology that gives them an experience on par, and even one step ahead, of what the big players can provide. The company uses different claims management service providers to enable efficient claim processing for each of its cell programs.

A spokesperson for Talisman Casualty Insurance Company said: “Our claims management technology allows us to give immediate feedback on the overall impact of claims. This dramatically reduces the time needed to make adjustments due to the simple aggregation of data within a cell captive. This means faster turnaround times for blocking issues that are impeding normal business operations. Since claims account for the majority of a captive’s expenses, our best practice claims management helps our captives distinguish themselves from most traditional insurers.”