Business
Palomar and Neptune Partner to Accelerate Growth in U.S. Flood Insurance Market
~ Palomar to Appoint Neptune as Exclusive Managing General Agent for Flood Insurance ~ LA JOLLA, Calif. and ST. PETERSBURG, Fla., June 26, 2025 (GLOBE
About this update from Palomar Holdings, Inc.
[{"type":"text","content":"~ Palomar to Appoint Neptune as Exclusive Managing General Agent for Flood Insurance ~ LA JOLLA, Calif. and ST. PETERSBURG, Fla., June 26, 2025 (GLOBE NEWSWIRE) -- Palomar Holdings, Inc. (“Palomar” NASDAQ: PLMR), a leading specialty insurer, and Neptune Flood (“Neptune”), the largest provider of private flood insurance in the United States, today announced a strategic partnership under which Neptune will become Palomar’s exclusive managing general agent for flood insurance. Palomar will continue its longstanding commitment to the private flood insurance market while gaining access to Neptune’s AI-based technology powered by data science and machine learning. The partnership enables both companies to advance their shared mission to deliver a robust technology driven alternative to the National Flood Insurance Program and make flood coverage more accessible to customers nationwide. “Neptune’s technology and underwriting capabilities make them an ideal partner as we continue to grow in the flood insurance space,” said Jon Christianson, President of Palomar. “Together, we are expanding flood insurance availability with a streamlined and scalable solution that delivers strong value to our policyholders and partners.” “Neptune is excited to add Palomar to our panel of top-tier carriers,” said Trevor Burgess, Chairman and Chief Executive Officer of Neptune Flood. “We look forward to welcoming Palomar’s flood customers to the Neptune platform and to increasing access to flood insurance nationwide.” Through the seamless transition, Palomar’s agents will gain access to Neptune’s platform, offering a streamlined quoting and binding experience with enhanced coverage options. About Palomar Palomar Holdings, Inc. is the holding company of subsidiaries Palomar Specialty Insurance Company (“PSIC”), Palomar Specialty Reinsurance Company Bermuda Ltd. (“PSRE”), Palomar Insurance Agency, Inc., Palomar Excess and Surplus Insurance Company (“PESIC”), Palomar Underwriters Exchange Organization, Inc. (\"PUEO\"), First Indemnity of America Insurance Co. (\"FIA\"), and Palomar Crop Insurance Services, Inc. (\"PCIS\"). Palomar's consolidated results also include Laulima Exchange (\"Laulima\"), a variable interest entity for which the Company is the primary beneficiary. Palomar is an innovative specialty insurer serving residential and commercial clients i...