Privilege Underwriters Reciprocal Exchange (PURE), a member-owned reciprocal insurer, said that it will offer customized property and casualty insurance coverage to responsible owners of well-built, high value homes in Maryland and Washington, DC.
The company said that it will also offer automobile, jewelry, art, personal liability and watercraft insurance to qualified individuals and families, with cost-effective flexibility. Along with savings, the company also plans to help its members to develop sound practices to protect their homes and valuable property.
The company said, in Maryland’s coastal areas, it will provide valuable capacity without mandatory hurricane deductibles. In addition, it will also offer owners of condominiums and cooperatives up to $25,000 of coverage for damage caused to an adjacent unit, which will be of particular value in the DC area.
Ross Buchmueller, president and CEO of PURE Risk Management, said: “We believe owners of high value homes will appreciate the access to high quality, affordable, customized insurance coverage and personalized service.
“Combined with the limited coverage for jewelry typically found within most homeowners policies, and the remarkable profit margins of special jewelry and fine art policies, this profitability confirms there is a clear need for a specialist company that puts policyholders ahead of shareholders.”