Palomar Holdings, Inc..
PLMR.US | Non-life insurance
Palomar Holdings, Inc. is a specialty insurance company focused on the provision of innovative insurance solutions for underserved markets. The company specializes in catastrophe-exposed insurance lines, including residential and commercial earthquake, hurricane, and flood insurance. Palomar distrib...Show More
Better Health for All
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Palomar's core business of providing insurance products has no significant direct positive or negative health impact. The company states it has no significant involvement in products with established negative health outcomes such as alcoholic beverages, tobacco products, or pesticides.
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The company's products do not have direct safety implications for physical or mental health, nor do they involve health-related pricing, vulnerable population access for health needs, or health risk disclosures. Palomar does not engage in health-focused R&D or capital allocation.
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While the company acknowledges climate change and aims to reduce its carbon footprint,
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there is no evidence of direct health externalities from its operations or specific mitigation efforts. Palomar offers a comprehensive benefits program for its team members that addresses physical and mental health, family care, and financial support.
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The company protects customer data through multi-layered security and maintains safeguards to prevent unauthorized use, access, and disclosure of personal information, complying with state and federal laws.
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There is no evidence of specific actions taken during public health emergencies,
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nor does the company's business model involve healthcare workforce development, preventative health measures, or health education.
Fair Money & Economic Opportunity
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Palomar Holdings Inc. is an insurance company and does not offer consumer lending or deposit services. Therefore, KPIs related to APRs, fee structures, high-cost products, debt burden, fair lending, geographic inclusion for banking services, and product simplicity for financial products are not applicable. The company has not been subject to any significant instances of noncompliance with laws and regulations during the reporting period, and no fines or nonmonetary sanctions were imposed.
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Palomar commits to allocating no less than 2% of its investment portfolio to 'green' investments.
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However, a February 1, 2022 report stated that 1% of its investment portfolio was in 'green' investments, which is the most recent specific figure for actual allocation.
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Fair Pay & Worker Respect
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The company's CEO to median employee pay ratio was 33:1 in 2024.
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Employee satisfaction is rated at 4.3 out of 5 stars, with 93% of employees recommending working at the company to a friend and 99% approving of the CEO.
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Fair Trade & Ethical Sourcing
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Palomar Holdings, Inc. is a specialty insurance company, a service-based business that does not procure or trade physical commodities. Therefore, the KPIs related to fair-trade certification, supply-chain audits, child/forced labor incidents in upstream practices, traceability of physical goods, remediation of sourcing violations, ethical clauses in commodity contracts, and high-risk material spend are not applicable to its core operations. The provided articles explicitly state no relevant information was found for the company or the ethical sourcing metrics.
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Honest & Fair Business
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Palomar Holdings, Inc. has an ESG Controversy Level of 0.9, which is better than the category average of 1.0.
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The company has a formal anti-corruption and bribery policy that prohibits bribery and corruption, forbids political contributions, and limits charitable contributions to pre-approved schemes.
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This policy covers all employees and associated parties, with confidential reporting channels available to the Chief Legal Officer or HR.
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However, there is no evidence of training frequency or effectiveness metrics for this policy. The company also has a confidential and anonymous financial concern hotline for complaints regarding accounting, internal accounting controls, or auditing matters, which is required by the SEC and reports to the Audit Committee.
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No evidence is provided regarding the independence of investigation processes, training, or effectiveness of the whistleblower program.
Kind to Animals
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Palomar Holdings, Inc. is an insurance company, and its core business operations do not involve animal products, animal testing, or animal agriculture. Therefore, most animal welfare KPIs are not applicable. The company does not produce products requiring cruelty-free certification, conduct animal testing, operate animal husbandry facilities, or source animal-derived ingredients. Palomar is the only endorsed insurance broker of the United Egg Producers of America.
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This indicates a relationship with animal agriculture, but this does not mean Palomar sources animal products or audits these entities as suppliers. The company's Palomar Animal Advocacy Program provides care for pets of domestic violence victims, including foster homes, a pet pantry, a kennel, temporary foster placement, owner-surrenders, pet deposits, vet care, a spay-neuter clinic, pet vaccines, microchipping, and preventative services.
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This is a social program, not an animal-related operation under company control that would typically be subject to humane certifications. Palomar allocates a minimum of 2% of its investment portfolio to climate or green bonds.
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This is an investment strategy, not an R&D budget for animal-free technologies or direct conservation initiatives with measurable biodiversity impact.
No War, No Weapons
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No specific evidence was found in the provided article regarding Palomar Holdings, Inc.'s association with arms manufacturing, military contracts, conflict facilitation, or peacebuilding initiatives.
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The article discusses general sustainable insurance practices and a global framework for the insurance industry, without providing company-specific data relevant to the 'No War, No Weapons' ethical value.
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Planet-Friendly Business
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No evidence available to assess Palomar Holdings, Inc. on Planet-Friendly Business.
Respect for Cultures & Communities
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No evidence available to assess Palomar Holdings, Inc. on Respect for Cultures & Communities.
Safe & Smart Tech
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Palomar Holdings, Inc. provides mandatory cybersecurity, privacy, and information handling training to all team members and non-team members upon onboarding and annually.
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Additional role-based training is provided to security, IT operations, and development teams.
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Monthly simulated phishing campaigns are conducted against all users to test training effectiveness.
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The company leverages multifactor authentication.
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It performs vulnerability and penetration testing, and utilizes cutting-edge threat hunting services that actively monitor for anomalies on its network and application events.
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Routine external penetration testing is conducted by third-party providers.
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The company aligns with the National Institute of Standards and Technology (NIST) and COBIT 2019 framework, and states it complies with federal regulations and applicable laws.
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It has incident monitoring and reporting procedures in place.
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The company's privacy policy mentions user rights to access, delete, modify, and correct data, but these rights are dependent on jurisdiction and may have significant limitations.
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Zero Waste & Sustainable Products
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The company has consistently reported no waste disposal violations. Its 2023 Sustainability Report, 2022 Sustainability & Citizenship Report, and 2020 Sustainability & Citizenship Report all indicate no regulatory actions, violations, fines, or compliance issues related to waste disposal.
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