Palomar Holdings Inc. announced a new partnership with PURE Programs to offer owners of high value homes undergoing complex construction projects a new specialized excess and surplus (E&S) lines insurance and risk management program.
The program is designed for luxury construction projects requiring up to $20 million of coverage, inclusive of ground-up new builds, major renovations, and additions.
Palomar Holdings, through its surplus lines subsidiary, Palomar Excess and Surplus Insurance Co. (PESIC), will serve as the insurer for the new offering and PURE Programs will serve as the managing general underwriter (MGU) overseeing insurance operations including underwriting, risk management, and claims.
Palomar focuses on specialty insurance for residential and commercial clients concentrating on certain markets that it believes are underserved by other insurance companies, such as the markets for earthquake, hurricane, and flood insurance. Palomar’s principal insurance subsidiary, Palomar Specialty Insurance Co., is an admitted carrier in 32 states.
PURE Programs is a managing general underwriter offering specialized E&S insurance and risk management for PURE members and other high net worth families whose complex exposures do not qualify for coverage from an admitted insurer. PURE Programs, LLC holds producer licenses in some, but not all states.
Source: Palomar Holdings Inc.
Topics Excess Surplus Construction
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