PURE Approved to Sell Homeowners Coverage in New York

White Plains, N.Y.-based Privilege Underwriters Reciprocal Exchange (PURE) has received approval from the New York State Insurance Department to begin offering homeowners and other personal lines insurance in The Empire State, and has plans to begin covering high-value homes in downstate New York, including Long Island, by early next year.

“For the past several years, the owners of high-value homes in New York have had fewer and fewer insurance choices, and their need for high-quality, reasonably priced coverage has remained largely unmet,” said Ross Buchmueller, president and chief executive officer of PURE, a specialty insurer that has product lines covering homeowners, automobile, jewelry, art, personal liability and watercraft insurance coverage.

PURE filed for approval of its rates and policy forms in September; it’s awaiting approval prior to launch.