LAS VEGAS, NV / ACCESSWIRE / December 9, 2019 / The Talisman Casualty Insurance Company, based in Las Vegas, Nevada, is reaching out to pet businesses to help them find the insurance they require to operate. The firm is taking this step because they believe the business world is changing. Business owners, keen to take control of their lives by combining the freedom of working for themselves with the benefits of an enjoyable work-life balance, are establishing businesses run from their homes. There are also advantages to running such a business, such as reducing the overhead of maintaining official premises and tax breaks.
This burgeoning market of sole traders and micro-businesses with fewer employees appears in many sectors, including the creative industries, financial services, secretarial, and pet-related services. Talisman Casualty has identified Surety, Pet Professional, and Marine Programs, as being particular areas where these patterns of business occur, and many businesses have come to rely upon the firm to manage their risks using captive cell insurance.
It is possible to identify why the pet insurance market is well suited for captive cell insurance. The scale of the pet economy is significant and has faster growth than many other sectors. A spokesman for the firm said, “The small business owner General Liability program has been created with modern small business owners in mind. It is a feature of today’s small business profiles that many people are working in businesses made up of only one or two people; sometimes they can be part-time workers.”
He went on, “This is a feature of many businesses built around the pet industry; for example, dog-walkers, pet-sitters, and animal trainers.” Talisman has also identified dog groomers, boarders, breeders, hunting clubs, agility clubs, and poop scoopers as other forms of business within this niche. In many of these fields, earning trust and a good reputation is a key part of gaining new business. It is also one of the biggest challenges that these business owners face.
Many of these small business owners work from home, using a separate part of the house as premises or simply using the home as a base. Risks from operating in this manner include the standard business risks of property damage, defending lawsuits, libel, slander, and medical expenses, which can be mitigated by General Liability Insurance. Professional Liability Insurance will protect against liability for malpractice. In the event a product causes harm, protection could be provided by Product Liability Insurance. In many cases a standard insurance package would be unnecessarily expensive, as elements of the cover may simply not be applicable.
A spokesperson for Talisman quoted recently on Street Insider, said, “We believe it is time for business owners to take control of their business and protect themselves against emergencies. Many now feel that their needs are not addressed by traditional insurance offerings and are looking for self-insurance options to address their specific needs at a price point their business can afford. We find that many firms come to us because they must self-insure risks that are being excluded from their general liability policies, including things like age discrimination and other employment practices that will continue to expose business owners to increasing liabilities.
Talisman Casualty Insurance Company is able to deliver the sort of peace of mind that enables small businesses to manage their business risk at a cost that helps them stay competitive. A key factor in this is the flexibility they wield in changing their cover when the business’ needs evolve. Another advantage is that cover can be offered that is very specific to a business model, as in the case of Trainers who train dogs for aspects of police work such as the detection of drugs. The Pet Professional program is able to offer options not usually available in standard policies.
The Street Insider article explored the advantages of renting a cell in the captive cell market to those who wished to avoid the management of the insurance function of a captive cell. It said, “Their Claims Management services (which specialize in the insurance sector) offer protected, specialized cells to any business owner looking to protect their assets through the use of reinsurance markets and alternative risk finance markets that will often undertake to insure assets other markets either do not cover or are offered at a much higher cost point.”
It continued, “The company works with the leading Managing General Agencies (MGA)s in the area, dealing with a wide range of niche and specialty insurance and reinsurance markets. Talisman Casualty claims, the heart of their programs, use local adjusters who meet the firm’s high ethical and competent criteria. This means that participants get the best claims experience.”
Talisman Casualty Insurance Company is governed by the laws of the state of Nevada. All coverage is commercial and is only available to those businesses that participate in an underwriting cell. Those interested in learning more about the firm may visit their website or contact them on the phone or through email. For pet and animal-based businesses looking for insurance, this route may give them some alternative options from their usual insurers.
For more information about Talisman Casualty Insurance Company, contact the company here:
Talisman Casualty Insurance Company
Talisman Casualty Insurance Company
7881 W. Charleston Blvd, Suite 210 Las Vegas, NV 89117
SOURCE: Talisman Casualty Insurance Company
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