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Privilege Underwriters Reciprocal Exchange PURE to Offer Comprehensive Property and Casualty Insurance in Michigan

July 4, 2011

WHITE PLAINS, NY - July 5, 2011, Ross Buchmueller, president and chief executive officer with PURE Risk Management LLC, today announced the expansion of Privilege Underwriters Reciprocal Exchange (PURE), a member-owned reciprocal insurer, to offer high-quality, customized property and casualty insurance coverage to responsible owners of well-built, high-value homes in Michigan. Through its multiple policy lines (home, automobile, jewelry, art, personal liability and watercraft), PURE plans to provide affordable, comprehensive insurance solutions to successful individuals and families throughout the state.

Coverage and Service Designed for Michigan’s Most Successful Families

“PURE is pleased to offer owners of high-value homes in Michigan much needed access to high-quality coverage and superior, personalized service,” said Buchmueller, who founded AIG Private Client Group and served as its president until 2006 when he and his partners established PURE. “As a specialty insurer dedicated to serving the high net worth market, PURE’s risk management experts and select group of independent agent partners are equipped to accurately assess the value of homes, evaluate the unique insurance needs of the affluent and develop customized solutions at a reasonable price.”

PURE tailors its policies and products for the high net worth market and provides important benefits not offered by standard carriers or other specialist insurers. In Michigan, unique benefits include $50,000 of coverage for jewelry that is lost, misplaced or stolen at $25,000 per item. This surpasses the industry’s standard $1,000 to $5,000 of coverage, often inadequate coverage for high net worth individuals with significant jewelry collections.

Unique Alignment with Policyholders

As a policyholder-owned company, PURE is managed for the benefit of its membership. This alignment of interests with members often results in lower annual premiums, a significant advantage in markets that have been impacted by rising insurance rates. “We aim to charge the right price for insurance,” said Buchmueller, “not the highest.” Since PURE began writing policies in 2007, members have reported an average annual savings of more than $3,200 on their insurance premiums, a particularly welcomed advantage in markets like Michigan that have been disproportionately impacted by the decline of the economy. In addition, in any year when premiums earned by PURE exceed the cost of all policies (including losses, expenses and reinsurance costs), PURE commits to allocate the balance to Subscriber Savings Accounts (SSAs) held in the name of each member. SSAs enable members to participate in the continued success of their insurance company, while actually enhancing the claims-paying ability of PURE through tax-advantaged surplus growth. In 2010, PURE allocated $1,000,000 of surplus growth to Subscriber Savings Accounts. For more information, go to

Select Group of Agents & Members

PURE works with a select group of highly qualified independent agents. “We are excited to welcome PURE to Michigan, and look forward to offering our clients something new and unique, particularly such a high-quality offering with very competitive rates,” said Mark Holloway, vice president with Hylant Group.

These agents also provide PURE with access to responsible, qualifying members. In order to further ensure the health of its membership and to keep their long term cost of risk low, PURE has developed innovative risk management services to help its members better protect their property to decrease the likelihood of a claim. PURE’s risk management department is dedicated to identifying the causes of major losses, sharing its findings with members, and providing recommendations and solutions to help members prevent future losses. The company will contribute $2,500 to cover the cost of implementing loss-mitigation measures to prevent the recurrence of certain types of losses. PURE also performs risk appraisals to identify areas within members’ homes where claims may occur and then helps make arrangements to address those issues.

About PURE

PURE refers to Privilege Underwriters Reciprocal Exchange, a member insurer of the PURE Group of Insurance Companies. PURE and the PURE Group of Insurance Companies serve over 11,000 members who enjoy the security of almost $100 million of surplus capital, $1 million of which is held in Subscriber Savings Accounts. In addition to Michigan, PURE currently serves members in 19 additional markets and continues to execute against its national expansion plans. Visit to see a map of the states where PURE is licensed and actively writing business. PURE provides coverage for high-value homes, automobiles, jewelry, art, personal liability and watercraft to successful individuals and families. PURE is a member-owned reciprocal insurer and is rated “A-” (Excellent) by A.M. Best Company. PURE is committed to helping its members reduce the price of insurance today while controlling the long-term cost of risk. PURE Risk Management LLC serves as the attorney-in-fact for PURE. For more information, visit

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Editor's Notes:

Interviews with PURE's executives, agents and members may be coordinated

Copies of the A.M Best Company report are available

This material is descriptive only. The precise coverage offered is subject to the terms and conditions of the policies issued. The rights and responsibilities of members are subject to the Subscriber’s Agreement and Power of Attorney. Coverage may not be available in all jurisdictions. Actual savings, if any, will vary.