What started as an option for high-net-worth homes in Florida has quickly grown to 30 markets with plans to expand more.
Privilege Underwriters Reciprocal Exchange (PURE) this week announced it would enter another market in need of choices—Louisiana.
PURE now writes in 29 states and Washington D.C. It is licensed in 39 states, adding one or two states per month to its roster, says Ross Buchmueller, president and chief executive officer of PURE.
“We are thrilled with the steady pace of our diversification,” says Buchmueller, adding that the company is “not merely reaping the benefits of scale and diversification, we are taking advantage of our ‘green field’ to optimize the diversification of our membership to create the most favorable result.”
In other words, PURE has no legacy issues and can narrow its underwriting to high-net-worth homes, which, according to PURE, are typically well-built homes—even along the hurricane-prone coastlines that other insurers avoid. The company also offers coverage for automobiles, jewelry, art, watercraft and personal liability.
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