New insurance firm in Alabama caters to the affluent
December 27, 2010
The Birmingham News - 01/28/11
By Roy L. Williams
An insurance company specializing in high-net-worth individuals has set up shop in Alabama, with initial focus on metro Birmingham and the Gulf Coast region.
PURE, which stands for Privilege Underwriters Reciprocal Exchange, is a member of the PURE Group of Insurance Companies, with corporate offices in Fort Lauderdale, Fla. and White Plains, N.Y.. Licensed in 33 states, it provides coverage for high-value homes, automobiles, jewelry, art, personal liability and watercraft for individuals and families.
PURE began writing policies in 2007, and serves 10,000 customers with combined premiums of just under $100 million.
PURE began writing policies in Alabama in December, and is focusing first on the Birmingham-Hoover area and property owners in Baldwin and Mobile counties. In Birmingham, it targets customers with homes valued at $750,000 and above, while its Gulf Coast customers typically are for property valued at $1 million or more.
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