White Plains, New York – April 10, 2012 – Privilege Underwriters Reciprocal Exchange (PURE) today announced the expansion of its customized property and casualty insurance coverage to owners of well-built, high-value homes in Mississippi.
A Smart New Option for Mississippi’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. And, as a policyholder-owned company that emphasizes alignment, transparency and conflict-free service for members over short-term profits for shareholders, PURE has been able to deliver specialist quality for less. Since 2010, members have reported average savings of more than 25% on their annual insurance premiums.
Rewarding Windstorm Mitigation
As a proud member of the Insurance Institute for Building and Home Safety, PURE continues to advocate for improvements in hurricane mitigation. “As part of our efforts to encourage quality construction and adherence to the most recent building codes, PURE offers significant premium credits to families who mitigate their homes against losses,” said Ross Buchmueller, President and Chief Executive Officer of PURE. “We applaud efforts by the Mississippi House to require all insurance providers, come July 2013, to offer premium credits for hurricane mitigation, and want to emphasize that responsible owners of hardened, well-built homes need not wait until next summer to realize savings on their premiums.”
In addition to offering generous discounts for well-mitigated homes, including those built with reinforced concrete roofs, asphalt shingles and impact glass and shutters, PURE assists its members with the prevention of losses. Following a major claim, PURE’s High Value Homeowners policy covers the cost of repairing or replacing damaged property and, in some cases, will contribute up to $2,500 to the cost of preventing a similar loss from re-occurring. Over the past year, PURE has facilitated contributions for alarm systems, lightning suppression devices, back-up generators and dozens of other remedies to help PURE members control the long-term cost of risk.
PURE is proud to provide insurance solutions through a select group of trusted, qualified ambassadors that cater to the high net worth community. Prospective PURE members can visit pureinsurance.com/agents to locate an appointed agent in their area.
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 34 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.