PURE Insurance explained

PURE Insurance
Industry:	Property insurance
Hq Location City:	White Plains, New York

Privilege Underwriters Reciprocal Exchange (PURE) is an American property insurance company established in 2006.^[1]

Business model

PURE caters to high-net-worth customers.^[2] It offers insurance for homes with a rebuild value of more than one million dollars, automobiles, watercraft, jewelry, art and other collections, personal excess liability (umbrella), and flood. The company is based in White Plains, New York.^[3] PURE is a member of the PURE Group of Insurance Companies (the PURE Group).^[4]

Breach of sanctions

Between 2018 and 2020 PURE Insurance assisted Viktor Vekselberg, a Russian oligarch, with $315,891 of transactions in breach of sanctions and was accordingly fined $466,200 by OFAC in 2023.^[5]

Notes and References

1. Web site: Stern. Samuel. Case Study: How PURE Insurance Built A Customer-Obsessed Business. Forrester. 17 September 2017.
2. News: Sullivan. Paul. Protecting Andy Warhol From Flood, Fire and Quake. 17 September 2017. New York Times.
3. Web site: Official Web Page. PURE Insurance. 17 September 2017.
4. Web site: Tokio Marine Holdings acquires PURE Group. Grzadkowska. Alicja. Insurance Business. en. 2019-11-19.
5. Web site: PURE Insurance to pay $466K in OFAC sanctions case . 22 December 2023.