Specialty insurer and MGA create coastal homeowners program

Specialty insurer and MGA create coastal homeowners program

Specialty insurer and MGA create coastal homeowners program A specialty insurer and a managing general agent have partnered to offer coastal homeowners in Mississippi insurance coverage.

The partnership allows Palomar Specialty Insurance Company to provide insurance coverage to those living in vulnerable coastal areas in Mississippi through agents appointed by Cabrillo Coastal General Insurance Agency.

Mississippi is the second and latest state Palomar Specialty has offered homeowners insurance products to; the company initially began selling products primarily in Texas.

“Palomar Specialty is thrilled to partner with Cabrillo, a leading managing general agent with intimate knowledge of the coastal homeowners market along the Eastern seaboard and Gulf Coast,” said Palomar Specialty CEO Mac Armstrong in a statement. Our management team has significant experience in the wind-exposed property market, and has had initial success with its Texas homeowners program launched in 2015. Palomar Specialty’s focused approach near the coast will provide policyholders with comprehensive coverage in the event of a catastrophic hurricane or windstorm.”

“While earthquake coverage will always be core to Palomar Specialty’s business plan, expansion into Mississippi exemplifies our goal to diversify into attractive catastrophe insurance categories outside of earthquake,” Armstrong added.

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