The program is designed for luxury construction projects requiring coverage of up to $ 20 million, including new construction, major renovations, and additions.
Palomar Holdings, through its excess lines subsidiary, Palomar Excess and Surplus Insurance Company (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.
PURE programs provide top-notch insurance coverage, broader than that typically found in the E&S market, along with proactive risk management advice and services to prevent claims in the first place and services concierge service in the event of a claim.
Palomar Holdings, Inc. is the holding company of the subsidiaries Palomar Specialty Insurance Company (“PSIC”), Palomar Specialty Reinsurance Company Bermuda Ltd., Palomar Insurance Agency, Inc. and Palomar Excess and Surplus Insurance Company. Palomar focuses on specialty insurance for residential and commercial customers with a focus on certain markets that it believes are underserved by other insurance companies, such as earthquake insurance markets. , hurricanes and floods. Palomar’s primary insurance subsidiary, Palomar Specialty Insurance Company, is a licensed carrier in 32 states and has an AM Best financial strength rating of “A-” (Excellent).