Palomar Specialty has expanded its innovative Flex Choice residential earthquake product that allows customisation of residential earthquake cover to specific needs into Arkansas, Tennessee, Kentucky, Illinois, Indiana, and Utah.
Flex Choice offers a variety of coverage alternatives and deductible options for homeowners and is distributed through independent agents and wholesale brokers.
“Palomar is committed to bringing innovative catastrophe insurance products to all markets where perils exist and there is a need,” said Palomar President and Chairman, Mac Armstrong
“Flex Choice is the latest example of such innovation; it allows agents to offer unprecedented bespoke coverage options to their customers via an intuitive and streamlined platform,” he continued.
The Flex Choice product can be accessed through the Palomar Automated Submission System, PASS, which offers producers a quick and efficient quote to issue process that can be completed within minutes.
Palomar Specialty is known as an insurer that utilises reinsurance capacity to help it lay-off risk exposures and to augment its own ability to underwrite additional risk. The insurer also tapped the capital markets for reinsurance, to help diversify its sources of capacity, with its first catastrophe bond issued earlier this year.