Palomar Holdings Inc. is a specialty property insurance company that focuses on providing innovative insurance solutions for catastrophe-exposed residential and commercial properties. The company was founded in 2014 and is headquartered in La Jolla, California. Palomar is listed on the NASDAQ stock exchange under the ticker symbol "PLMR."
Palomar primarily operates through its subsidiary, Palomar Specialty Insurance Company. The company offers a range of insurance products designed to address the unique risks associated with natural disasters such as hurricanes, earthquakes, and floods. Palomar's coverage includes both residential and commercial properties located in catastrophe-prone regions of the United States.
Palomar boasts its proprietary technology platform, known as Skyward Specialty. This platform leverages advanced analytics and data-driven insights to underwrite and price insurance policies accurately. Skyward Specialty enables Palomar to provide quick and efficient coverage assessments and streamline the insurance application process for its customers.
Palomar's most used service is its residential earthquake insurance, which provides coverage for homeowners in earthquake-prone areas. The company's earthquake insurance policies are designed to offer comprehensive protection against property damage and loss caused by seismic activities. Palomar's coverage includes both dwelling and personal property coverage, as well as additional living expenses in the event of displacement.
Palomar has gained recognition for its commitment to innovation and customer-centric solutions. The company's use of advanced technology and data analytics allows it to provide more accurate risk assessments, competitive pricing, and efficient claims handling. Palomar's focus on niche markets and its specialized approach to property insurance have contributed to its success in the industry.
In recent years, Palomar has continued to expand its product offerings and geographic footprint. The company has entered into strategic partnerships and collaborations to enhance its market presence and distribution capabilities. Palomar's growth strategy includes targeting underserved markets and diversifying its product portfolio to meet the evolving needs of customers in catastrophe-exposed regions.