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Scott Simmonds on PUREThe Insurance Assurance BlogBy Scott Simmonds PRIVILEGE UNDERWRITERS RECIPROCAL EXCHANGE A client called me yesterday asking about home insurance in Florida. His agent has suggested Privilege Underwriters Reciprocal Exchange, PURE for short. I had not heard of the company. Initially I thought it was a FL pooling arrangement due to insurers backing off the FL market. No, it is a true reciprocal exchange. I reviewed the website and what I found was very interesting. They specialize in high valued homes and are apparently very selective. I was not impressed by their financial statement. However AM Best gave them an A-. More eye opening is the Weiss/TheStreet rating of B-. Weiss is not an easy rater. This strikes me as a very entrepreneurial company formed to fill a real market need. I wish them well. The Insurance Assurance Blog: "The Most Comprehensive Unbiased Insurance Information Site - Business Insurance, Personal Insurance, Risk Mitigation, Loss Prevention. Scott does not sell insurance and never accepts fees for any product reviewed on this blog." External Link: Scott Simmonds on PURE (link will open in a new window) |
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