White Plains, New York-based Privilege Underwriters Reciprocal Exchange (PURE) said it has received approval from the State of Connecticut Insurance Department sell homeowners’ insurance and other personal lines of insurance coverage throughout the state, including its coastal communities.
The company, which caters to high net worth individuals, said it plans to begin writing policies in early 2009. In addition to high value homeowners’ insurance coverage, the specialty insurer provides automobile, jewelry, art, personal liability and watercraft coverage.
PURE said it plans to begin appointing local independent insurance agents to help enroll members.
“PURE is proud to offer our customized insurance coverage and personalized service for successful families in Connecticut,” said Ross Buchmueller, president and chief executive officer of PURE Risk Management. “We recognize the challenges of insuring coastal properties, including some homes of the highest values. By managing the company for the benefit of policyholders – not shareholders – we can provide high-quality coverage at very reasonable prices backed by excellent financial strength.”
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