Risk Theory Launches Jupiter Platinum Home E&S Product in California - Insurance Journal

Theory Briefing

• Risk Theory's Jupiter Platinum targets California homes valued between $750,000 and $25 million — a market standard carriers have largely abandoned.
• The program draws capacity from Amherst Specialty Insurance, placing wildfire and high-value home risk in the surplus lines market instead of the admitted market.
• E&S products like this emerge when regulated insurers exit a market, shifting pricing power away from state oversight and toward open-market negotiation.
• California's high-value homeowners face a shrinking pool of willing insurers, making surplus lines the last resort — and often the most expensive one.