Palomar Specialty, Wellington to Launch Wind Insurance Product in Texas

Palomar Specialty Insurance Co., based in La Jolla, Calif., has partnered with Fort Worth-based Wellington Risk Insurance Agency Inc. (Wellington), to offer wind-exposed residential property insurance in Tier II counties in Texas.

This represents Palomar Specialty’s first expansion product category outside of earthquake coverage, according to the company’s announcement. Palomar Specialty is currently offering select homeowners, standard homeowners and standard dwelling fire coverage through Wellington-appointed agents.

Palomar Specialty Insurance Co. is a recently established catastrophe insurer that has initially focused on writing residential earthquake insurance, commercial earthquake insurance and difference in conditions (DIC) in earthquake-exposed states including California, Oregon and Washington. The company is now an admitted carrier in 17 states. Palomar Specialty has an A.M. Best financial strength rating of “A-” (Excellent).

Wellington Risk Insurance Agency is a member company of the Wellington Insurance Group.

Source: Palomar Specialty Insurance Co.