Privilege Underwriters Reciprocal Exchange (Pure) To Offer Comprehensive Property And Casualty Insurance In Arizona

Specialty Insurer Offers Customized, Cost-Effective Insurance Coverage and Personalized Service for Owners of High Value Homes.

WHITE PLAINS, N.Y. - 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 Arizona. Through its multiple policy lines (home, automobile, jewelry, art, personal liability and watercraft), PURE expects to provide affordable, comprehensive insurance solutions to successful individuals and families throughout the state.

PURE to Offer Broader Coverage, Better Service, for the Right Price

While Arizona's housing market has been depressed the past several years and property values have continued to drop, insurance costs in Arizona have continued to rise. As a result, many homeowners have been looking for new ways to cut costs. "As a growing number of Arizona's successful homeowners seek additional ways to spend less and save more, including opportunities to find better value for their insurance premium dollars, PURE is pleased to enter the state and provide a new option," said Buchmueller, who founded AIG Private Client Group and served as its president until 2006 when he and his partners established PURE.

As a policyholder-owned company, PURE is managed for the benefit of its members (policyholders). 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," Buchmueller said, "not the highest."

Since PURE began writing policies in 2007, members have reported average annual savings of more than $3,200 on their insurance premiums. As part of its capital management strategy, PURE allocates surplus to notional accounts in the name of each member, enabling members to participate in the company's continued success while enhancing PURE's claims-paying ability through tax-advantaged surplus growth. For 2010, PURE allocated $1 million to Subscriber Savings Accounts.

Innovative Risk Management Leads to Long-Term Cost Control

Greater alignment with its members has also motivated PURE to develop innovative risk management services to help its members better protect their property. 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 costs of implementing loss mitigation measures to prevent the recurrence of certain types of losses. PURE also performs risk appraisals to pinpoint areas within members' homes where claims may occur and then facilitates arrangements to address those problem areas.

Online Advice Center Helps Consumers Make Smarter Decisions

Jeff Granberg, personal lines manager with HUB International in Phoenix, has seen some change in consumers since last October's hailstorm, beginning with a greater awareness of insurance issues. "Since the hailstorms, more people are thinking about insurance and comparing notes with friends about car repairs and roof replacements," Granberg said. "As affluent consumers explore these issues online, PURE's interactive insurance evaluation tools can help them navigate the often confusing and overwhelming process of reviewing their insurance needs. In the end, an independent insurance agent can be priceless, but tools that educate and help successful families make smarter, more informed insurance decisions are a great start."

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 10,000 members who enjoy the security of almost $100 million of surplus capital. In addition to Illinois, PURE currently serves members in Florida, Alabama, Georgia, South Carolina, North Carolina, Arizona, Maryland, Washington D.C., New Jersey, New York, Connecticut, Rhode Island, Massachusetts and Texas. Licensed in 36 markets, 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 www.pureinsurance.com

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.

MEDIA CONTACTS:
Roar Media
Jeannie Salameh or Jolie Balido
jeannie ( @ ) roarmedia dot com or jolie ( @ ) roarmedia dot com
727.644.5010 or 305.586.0419
www.RoarMedia.com

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Contact Details

Company Name: Privilege Underwriters R eciprocal Exchange
Issued By: Jeannie Salameh
Phone: 727-644-5010
Address:
Website: Visit the website

by Jeannie Salameh (few years ago!)

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