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PURE Insurance

From Wikipedia, the free encyclopedia
PURE Insurance
IndustryProperty insurance
Headquarters
White Plains, New York
OwnerTokio Marine[1]

Privilege Underwriters Reciprocal Exchange (PURE) is an American property insurance company established in 2006.[2]

Business model

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PURE caters to high-net-worth customers.[3] 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.[4] PURE is a member of the PURE Group of Insurance Companies (the PURE Group).[5]

Breach of sanctions

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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.[6]

See also

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References

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