La Jolla, Calif.-based Palomar Specialty Insurance Co., established in February 2014 as a specialty catastrophe insurer, announced it is now licensed to write residential and commercial insurance in 14 states.
Palomar Specialty initially focused on writing residential earthquake insurance, commercial earthquake insurance and difference in conditions (DIC) in earthquake-exposed states including California, Oregon and Washington.
In recent months, the company expanded its licensure and is an admitted carrier in California, Oregon, Washington, Texas, Oklahoma, Missouri, Arizona, Nevada, Utah, Kentucky, Kansas, Indiana, Tennessee and Alaska.
Palomar Specialty was funded with $75 million of equity capital from private equity firm Genstar Capital Management, LLC and the management team. The Company has an A.M. Best financial strength rating of “A-” (Excellent).
Topics California Excess Surplus
Was this article valuable?
Here are more articles you may enjoy.
Why Power Outages Do More Economic Damage Than We Think 
Owner of Assisted Living Home Where 10 Died in Fire Denied Access to Insurance Funds 
Illinois USPS Employee Indicted for Alleged Workers’ Comp Fraud 
20,000 AI Users at Travelers Prep for Innovation 2.0; Claims Call Centers Cut 
