Palomar Specialty Insurance is expanding its residential earthquake insurance product, Flex Choice, into more states.
The insurer is now offering the product in Arkansas, Tennessee, Kentucky, Illinois, Indiana, and Utah.
Celebrate excellence in insurance. Join us at the Insurance Business Awards in Chicago.
Flex Choice is a product that allows consumers to secure earth coverage specific to their individual needs. It offers a variety of coverage alternatives and deductible options for homeowners.
The earthquake insurance product is distributed through independent agents and wholesale brokers with access to the Palomar Automated Submission System (PASS), a release said.
“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.”
In March, Palomar Specialty Insurance partnered with California-based Prospect General Insurance to provide a flood coverage product marketed as an “affordable” alternative to the National Flood Insurance Program (NFIP).
The flood insurance product includes dwelling coverage up to $5 million and personal property coverage up to $1 million.
Related stories:
Selling earthquake insurance to California’s 90% uninsured
California insurers provide tech based flood coverage
