PURE will make an allocation of $15 million into Subscriber Savings Accounts (SSAs)1 for the 2020 calendar year. This marks the ninth consecutive year in which we’ve made an allocation, and, to date, $118 million has been allocated back to the membership through SSAs.
In addition, members who have been with us for 10 years or more—PURE Gold2 members—will receive a cash distribution from their SSAs. This is the second year in which we’ve made cash distributions from SSAs, and more than 4,500 members will receive a total of over $1 million as part of the PURE Gold loyalty program.
1. SSAs remain on PURE’s balance sheet and are available to PURE to meet its claim or expense obligations. The precise handling of SSA’s is subject to PURE’s Subscriber’s Agreement and Power of Attorney, with oversight from the Florida Office of Insurance Regulation. You can view the agreement and obtain additional information at pureinsurance.com. PURE’s operating results depend substantially upon the Company’s loss experience. Actual experience may deviate from expected results due to factors including frequency of losses or multiple large losses.
2. PURE Gold is the marketing name used to refer to Senior Members, a designation given to PURE members (policyholders) who have been a part of the membership for 10 years or more. To learn more, visit our FAQs.