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]
See also
References
- ^ Stern, Samuel. "Case Study: How PURE Insurance Built A Customer-Obsessed Business". Forrester. Retrieved 17 September 2017.
- ^ Sullivan, Paul. "Protecting Andy Warhol From Flood, Fire and Quake". New York Times. Retrieved 17 September 2017.
- ^ "Official Web Page". PURE Insurance. Retrieved 17 September 2017.
- ^ Grzadkowska, Alicja. "Tokio Marine Holdings acquires PURE Group". Insurance Business. Retrieved 2019-11-19.
- ^ "PURE Insurance to pay $466K in OFAC sanctions case". 22 December 2023.
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This page was last edited on 21 January 2024, at 15:48