At Palomar, our commitment to sustainable business practices is driven by the understanding that environmental stewardship, social responsibility, and effective governance are interconnected pillars essential for long-term business success. We are dedicated to a business strategy that supports growth, well-being, and long-term sustainability through investment in our people, business, and communities.

Palomar sees firsthand the impact of climate change on the lives of Americans

We see firsthand the impact of climate change on the lives of Americans

Building Long Term Resilience

As a leading provider of insurance solutions for earthquakes, hurricanes, floods and other perils exacerbated by climate change, we see an opportunity to lead our industry and partner with private and public stakeholders to build a more sustainable, secure future. We envision a stronger, more robust chain of disaster preparation and response and support involving government, industry, and non-governmental organizations. Palomar’s mission is to help our customers rebuild after natural disasters, but our goal is to reduce the frequency and severity of those incidents.

Climate Strategy

Palomar acknowledges the reality of climate change and is committed to incorporating responsible environmental stewardship and sustainability into our business strategy and mission. We have and will continue to take steps to reduce our carbon footprint and preserve natural resources through responsible power and water management. As leaders in risk management solutions for earthquakes, hurricanes, floods and other disasters, we see firsthand the impact of climate change on the lives of Americans.

While Palomar is honored to offer insurance products that provide resilience after disaster strikes by helping our policyholders rebuild their homes and businesses, we are also mindful of the need to reduce the severity of events through more responsible climate management. Accordingly, with respect to our office activity, mobile combustion and business travel, we continue to work on reducing our environmental impact. Additionally, we offer our team a hybrid work environment that not only addresses our team members changing needs, but also has the added benefit of reducing our carbon footprint.

To view our Environment Statement, please click here.

Community & Team Member Well-Being

Palomar believes that every organization, regardless of size or scope, can make a meaningful difference on issues of community welfare, justice and equality. Civic engagement deepens our understanding of our customers and the communities in which they live. As such, we partner with like-minded organizations to drive action and promote positive change within our communities.

Palomar is proud to offer our team members a comprehensive and leading benefits program that includes a holistic approach to health and wellness. We provide programs to ensure our team has access to industry-leading benefits to address all aspects of well-being — physical and mental health, family care, financial support and community engagement. These programs, along with constant companywide dialogue, have helped us address the myriad challenges of COVID-19, maintain productivity and strengthen the bonds between our team. We also encourage and help coordinate volunteering opportunities for Palomar’s team members, ensuring that we keep a close connection to the communities in which we work. To learn more about D.I.C.E., click here.

Data Privacy & Cybersecurity

Palomar recognizes that protecting the privacy and security of the personal information of its customers is an important and paramount responsibility. We evaluate data from many sources, third-party service providers, public databases and that shared by our individual and business customers themselves. In order to properly secure this data safely, we maintain safeguards designed to help prevent unauthorized use, access and disclosure of personal information. We have worked diligently to create a multi-layered security posture leveraging people, process, and technology. This mindset is fundamental to not only ensure the security of our customers but also the long-term success of our business.

To view our Cybersecurity Statement, please click here.

To view our Privacy Statement, please click here.

Disaster Preparedness & Response

Palomar offers insurance products that provide our policyholders economic resilience and solace after disaster strikes. As weather patterns change and severe weather events become more frequent, our exposure of insured risk increases, which can impact our losses. In turn we must adjust our operational approach to these threats through enhanced customer support, capital protection, risk transfer and data analytics. We will continue to proactively manage our business and ESG risks ensuring we can provide the financial security and support that our customers expect when a natural disaster occurs. Fundamentally, as an insurer we try to provide our insureds comprehensive coverage, prompt service and most of all capital to rebuild when there is a loss.

Diversity & Inclusion

Palomar is committed to increasing diversity within our company. We believe that diversity yields greater creativity and productivity, helps us serve our customers and partners more effectively, and ultimately returns greater value to our shareholders and to the communities in which we do business. Palomar values the unique abilities and talents each individual brings to our organization and recognizes that we benefit in numerous ways from differences in culture, ethnicity, national origin, race, color, religion, gender, age, disability and sexual orientation. Our commitment to Diversity and Inclusion is as follows:

DIVERSITY – We are not all the same. Palomar celebrates our differences, and we identify opportunities for increased innovation and collaboration amongst diverse teams with diverse perspectives.

INCLUSION – Palomar appreciates and takes pride in the active involvement of every team member’s unique contribution within a culture that harmonizes our differences. Our team members understand their important contribution to the greater good and understand that what they do makes a difference, both for the company, and in the larger communities we serve.

COMMUNITY & ENGAGEMENT – Palomar’s commitment to diversity, equality and inclusion extends into the communities where we conduct business. We believe that every organization, regardless of size or scope, can make a meaningful difference on issues of community welfare, justice and equality. Through our social, personal, and professional networks, we champion our values and actions. We partner with like-minded organizations to drive action and positive change.

EQUALITY – Palomar promotes a work environment where individuals are treated fairly, respectfully and have equal access to resources and opportunities for growth. We encourage our Teammates to share ideas and collaborate to remove organizational boundaries, solve problems and drive company growth.

Further evidence of our commitment to diversity is exemplified in our company’s core values:

ACCOUNTABILITY – Palomar does the right thing with strong conviction, integrity and decisive action to strengthen trust within our company and with our partners and communities.

AGILITY – Palomar adapts quickly to change. Our entrepreneurial and resilient mindset drives us to remove barriers and find creative solutions to challenges.

AUTHENTICITY – Palomar puts people and partners first. We build strong relationships through transparency, trust, and respect for each other.

INNOVATION – Palomar is a bold and inventive problem solver. We continually collaborate and evolve to provide our partners and customers with unparalleled expertise and market-leading solutions.

DIVERSITY – Palomar celebrates diverse perspectives. We promote inclusion and equality to create more opportunities and build a better world for our team members, company, partners, and community.

We invest in our people and manage a workplace built on ethical behavior, compassion and productivity. We continually look for ways to contribute to a more sustainable present and future. Our D.I.C.E. Council (“Diversity, Inclusion, Community Engagement and Equality”) and our People and Talent programs cultivate an inclusive workplace in which all team members feel valued and empowered to create value for our stakeholders. We follow best practices in Corporate Governance guidelines in the interest of accountability and transparency.

Palomar’s seven-member Board now includes three women in addition to two members of underrepresented minority groups. This level of diversity is consistent with industry best practices and legal requirements under California law.

For our latest DEI information please reference our annual Sustainability & Citizenship Report.

Governance Practices

Our governance framework serves as a cornerstone for maintaining integrity while also enabling us to respond effectively to evolving trends and stakeholder expectations.

From the boardroom to the front lines of our business, integrity guides our decision-making processes, shapes our relationships with all our stakeholders, and underpins our commitment to sustainability. Here at Palomar, we understand that effective governance goes beyond simply following mandated regulations; it is an embodiment of our core principles and showcases our commitment to ethical leadership. Our goal is to establish trust, cultivate resilience, and make a long-lasting positive impact.

We constantly evaluate our governance initiatives and processes to ensure they remain effective and aligned with the latest best practices and regulations. Upholding integrity as a fundamental value, we shape our policies, procedures, and behaviors to maintain the highest standards of ethical conduct. This fosters a culture of adaptability and resilience, enabling us to navigate uncertainties and seize opportunities responsibly.

Click Here to Access Palomar’s Board of Directors.

Human Rights

Palomar’s respect for human rights is a fundamental part of who we are and how we operate. We are committed to human and labor rights principles outlined in international standards such as the United Nations “Universal Declaration of Human Rights”. We are an equal opportunity employer and have policies and training in place to identify and prevent discrimination, bullying, harassment and other forms of workplace behavior that our inconsistent with the company’s values.

To view our Human Rights Statement, please click here.

Investment Management

Palomar’s investment manager and its investment committee diligently examine the sustainability implications of its investment portfolio. Senior management conducts comprehensive reviews of the entire investment portfolio monthly. Sustainability considerations are a key component of the overall credit review of individual holdings. Palomar and its primary investment manager are both signatories to the United Nations “Principles for Responsible Investment” and have pledged to manage our investment portfolio with a focus on addressing sustainability issues.

Furthermore, Palomar allocates at least 2% of its overall investment portfolio to climate or green bonds. Examples of climate and green bond investing categories include renewable energy, energy efficiency, clean transportation, green buildings, wastewater management and infrastructure bonds tailored specifically to finance climate solutions.

To view our Responsible Investment Statement, please click here.

Safety & Health

Palomar’s team members are our most valuable asset, and we are committed to helping them be safe, healthy and productive in their lives and at work. Although Palomar is a specialty insurer and is not engaged in inherently higher occupational health and safety risk industries such as construction, manufacturing or chemicals, we believe that good occupational health and safety is part of being a responsible and sustainable company. Palomar complies with all state and federal laws, regulations and standards to ensure a safe and healthy work environment.

To View our Occupational Health and Safety Statement, please click here.

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