Earthquake insurer expands its business into Kansas, Oklahoma

A California company specializing in catastrophe insurance said Friday it has begun writing commercial and residential earthquake insurance in Kansas and 10 other states, including Oklahoma.

Palomar Specialty Insurance Co. said in a news release it initially focused on providing earthquake insurance in California, Oregon and Washington, but recently expanded its business.

The Kansas Geological Survey said in July that 56 earthquakes have been recorded in the state over the past seven months, with the vast majority occurring in south-central Kansas.

Virtually all those earthquakes have been minor and caused no damage.

“Palomar Specialty is swiftly responding to a market need by successfully broadening its geographic presence to serve both residential and commercial customers in earthquake-exposed regions throughout the United States,” CEO Mac Armstrong said in the release.

The other states where it is selling earthquake policies are: Texas, Missouri, Arizona, Nevada, Utah, Kentucky, Indiana, Tennessee and Alaska.

The company is licensed in Kansas, according to the Kansas Insurance Department.

Palomar carries a financial strength rating of A- with insurance industry credit rating agency A.M. Best, according to Best’s website.

This story was originally published August 22, 2014 at 10:18 AM with the headline "Earthquake insurer expands its business into Kansas, Oklahoma."