Portland, Oregon – February 21, 2012 – Privilege Underwriters Reciprocal Exchange, a policyholder-owned insurer that exclusively caters to high net worth individuals and families, today announced it will begin accepting new members (policyholders) in Oregon through its relationship with Marsh’s Private Client Services team.
“Marsh is a leader in servicing the personal insurance needs of successful individuals and families and has been a terrific partner of PURE throughout our national expansion,” said Ross Buchmueller, President and Chief Executive Officer of PURE. “We can’t think of a better producer to launch our effort in Oregon.”
A Smart New Option for Oregon’s High Net Worth Families
PURE offers a suite of comprehensive insurance solutions designed for successful individuals and families with sophisticated needs. As a specialist insurer, PURE’s coverage is often broader than that offered by standard carriers. For example, in Oregon, following a major claim, in addition to covering the cost of repairing or replacing damaged property, PURE’s High Value Homeowners policy will offer to contribute up to $2,500 to the cost of preventing a similar loss from re-occurring.
As a policyholder-owned company, PURE emphasizes transparency, alignment and conflict-free service for members over short-term profits for shareholders. This, coupled with a focus on risk management, enables PURE to deliver specialist quality for less. Since 2010, members have reported average savings of more than 25% on their annual insurance premiums.
A Partner with Local Expertise, Global Capabilities
A trusted risk advisor for affluent families, Marsh offers unparalleled expertise in risk identification, evaluation, and mitigation. Marsh’s Private Client Services team works closely with high net worth clients to help them protect their assets from a variety of risks that can lead to financial loss.
“In addition to advice on property risks related to storms, flooding, and other natural hazards, successful individuals and their families need specialized knowledge to help them protect their assets and manage a broad range of other unique risks,” said Connie Hill, Sales and Service Leader for Marsh’s Private Client Service Practice. “We are excited about the opportunity to team with PURE to provide superior insurance and risk management services to high net worth individuals and families in Oregon.”
To learn more, contact Shirley Gordon, Marsh Client Advisor Manager, at 1-866-627-7472.
Marsh, a global leader in insurance broking and risk management, teams with its clients to define, design, and deliver innovative industry-specific solutions that help them protect their future and thrive. It has approximately 25,000 colleagues who collaborate to provide advice and transactional capabilities to clients in over 100 countries. Marsh is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global team of professional services companies offering clients advice and solutions in the areas of risk, strategy and human capital. With 52,000 employees worldwide and annual revenue exceeding $10 billion, Marsh & McLennan Companies is also the parent company of Guy Carpenter, a global leader in providing risk and reinsurance intermediary services; Mercer, a global leader in human resource consulting and related services; and Oliver Wyman, a global leader in management consulting. Follow Marsh on Twitter @Marsh_Inc.
For promotional purposes, PURE refers to the members of the PURE Group of Insurance Companies, “the PURE Group”. With nearly $100 million of surplus capital, the PURE Group is rated “A-” (Excellent) by A.M. Best Company. Insurance coverage is underwritten through Privilege Underwriters Reciprocal Exchange, a Florida-domiciled reciprocal insurance exchange and member of the PURE Group. PURE provides coverage for high-value homes, automobiles, jewelry, art, personal liability and watercraft to more than 13,000 successful individuals and families in 32 markets across the U.S. 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. In 2010, PURE allocated $1,000,000 of surplus growth to Subscriber Savings Accounts. For more information, visit www.pureinsurance.com.
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. *Average savings based on members countrywide who reported savings to PURE since 2010. Actual savings, if any, will vary.