The specialized earthquake insurance company launches the surplus lines unit

The disaster insurance and reinsurance company launched Palomar Holdings Inc. Unit lines of surplus and surplus on Tuesday.

California-based Palomar said in a statement that Palomar Surplus and Surplus Insurance is a Arizona-based company licensed to write property / losses and businesses.

The statement said the unit is “currently on its way” to become a qualified insurance company for surplus lines in all US states and plans to start underwriting in the second half of 2020.

Palomar was established in 2014 by Mac Armstrong, formerly President of Arrowhead General Insurance Agency, a general administrative agency purchased by Brown & Brown Inc. In 2012.

Mr. Armstrong was appointed president of the insurance company, in addition to his role as CEO, earlier this month after Ryan Clark, president and managing director of Genstar Capital, stepped down after selling the remaining Genstar ownership in Palomar in May.

Armstrong said in the statement that the establishment of the E&S unit is a natural advance for Palomar.

“It is better for many of our commercial products to be better suited to the E&S market. As we continue to grow Palomar and expand the company’s product offerings, PESIC will enable us to write and secure some of the risks that our acceptable products and geographical footprint cannot meet at present.

Palomar reported total written premiums of $ 252 million in 2019. About 67% of its business is earthquake insurance and reinsurance, according to the 2019 Statement of Results. In addition, it provides hurricane and flood coverage. The company operates an insurance company in La Jolla and reinsurance in Bermuda.

Palomar also announced a million shares offering for shares on Tuesday. Palomar shares are trading on the NASDAQ, which closed at $ 83.61 on Tuesday.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos