High Net Worth Insurer PURE Moves to Another Coastal Area

High-net worth insurer Privilege Underwriters Reciprocal Exchange (PURE) is expanding to another state on its way to becoming a national carrier, our sister publication National Underwriter reported Friday, August 20.

Domiciled in Fort Lauderdale, Florida, the member-owned reciprocal insurer that began in the Sunshine State in January 2007 said it is now available to qualified homes in Massachusetts – even in coastal areas.

PURE will offer coverage to high-value homes on the Cape and islands, or Barnstable, Dukes and Nantucket counties. These homes would typically be forced to get coverage from the state's last-resort insurer, which is not designed for high-value homes, PURE said.