Product Analyst

WHITE PLAINS, N.Y., April 3, 2024 /PRNewswire/ -- PURE Specialty Exchange (PSE), the specialty surplus lines insurance carrier dedicated to providing PURE members and other responsible, high net worth families with solutions for their complex exposures has expanded its High Value Homeowners coverage to 6 additional states, including Arizona, Colorado, Hawaii, Montana, Utah and Wyoming. The product is designed for homes in coastal and wildfire exposed areas, as well as short-term rentals and other challenging risk profiles, requiring up to $50M in coverage that do not qualify for coverage with an admitted insurer.As carriers are reducing capacity or closing for new business in these challenging areas, the need for non-admitted solutions has been amplified."Sometimes PURE members buy and build in areas that are exposed to catastrophes like wildfires and hurricanes. They might choose to rent out their homes on a short-term or seasonal basis when not in use," said Bryan Luker, VP, Program Manager. "Whatever the case, if the risk profile falls outside of PURE's appetite, this expansion allows us to provide a solution and demonstrates our commitment to the membership, even when many other markets would decline to offer coverage."PSE is a reciprocal exchange in which:Members (policyholders) help efficiently grow the carrier's surplus through surplus contributions (a small fee that is paid in addition to their premium). This helps reduce PSE's cost of capital and resulting premiums over time.Members appoint an Attorney-in-Fact to manage day-to-day insurance operations. PSE's Attorney-in-Fact is PURE Specialty Risk Management, LLC.Underwriting profits or other surplus gains may be allocated to Member Savings Accounts held in the name of each active member.Additionally, members have access to the same claims, risk management, Member Advocate and service resources as PURE

High-net worth insurance specialist unit and member of the Tokio Marine Group, PURE, has now secured its debut catastrophe bond at the slightly upsized

WHITE PLAINS, N.Y., March 5, 2024 /PRNewswire/ -- Privilege Underwriters, Inc. (PUI) and the affiliated companies of the PURE Group of Insurance Companies (PURE) today announced two new leadership appointments: Drew Saad has joined as Chief Underwriting Officer and Dea Malollari has been promoted to Chief Risk Officer. Both appointments come on the heels of Martin Leitch and Dave Logan assuming the roles of Chief Executive Officer and President, respectively.As Chief Underwriting Officer, Saad will oversee PURE's Underwriting and Product teams. Having previously served in senior underwriting and product leadership roles at Allstate, Farmers Insurance and Zurich Insurance Group, Saad brings with him more than 15 years of technical expertise and strategic perspective in both personal and commercial lines.Dea Malollari is expanding her role with the appointment to Chief Risk Officer while retaining her current responsibilities as Chief Actuary. In her new role, Dea will chair PURE's Risk Steering Committee and serve as the liaison between PURE's internal audit team and Tokio Marine Holdings' risk management group."PURE was built on the foundation of being different, providing unparalleled service, delivering innovative solutions and rewarding members with broad coverage and competitive prices," said Martin Leitch, Chief Executive Officer. "This continues to be PURE's vision and north star