Concerned about wildfire risk and frustrated by state regulations, insurers in California have reduced their homeowner business. Affluent homeowners are now feeling the brunt of the pain, as two of the largest companies providing protection for multimillion-dollar properties discontinue coverage for some customers. American International Group Inc. (AIG) percent will begin notifying approximately 9,000 customers… Continue reading AIG and Chubb Cutting Back on Insuring Multimillion-Dollar Homes in Wildfire-Prone Areas in California
Tag: high-value homeowners insurance
PURE Programs Announces California High Wildfire Risk Insurance Program
PURE Programs, a managing general underwriter unit of the PURE Group, is introducing a new program for retail insurance brokers to provide to clients that own high value homes in California that are at greater risk of loss due to wildfires. The new high wildfire risk homeowners’ insurance program will cover high value homes directly… Continue reading PURE Programs Announces California High Wildfire Risk Insurance Program
Tokio Marine to Buy U.S. Insurer Pure Group for $3.1 Billion
Tokio Marine Holdings Inc will buy insurer Pure Group for about $3.1 billion, it said on Thursday, marking its fourth sizable acquisition in the United States in a little over a decade. Japanese financial firms have been forced to look abroad for growth amid an ageing, shrinking population at home. Tokio Marine, the world’s fourth-largest… Continue reading Tokio Marine to Buy U.S. Insurer Pure Group for $3.1 Billion
PURE Allocates $21.5 Million to Its Membership
Privilege Underwriters Reciprocal Exchange (PURE), the policyholder-owned property and casualty insurer designed for financially successful individuals and families, announced today that $21.5 million of policyholder surplus has been allocated back to the PURE membership for the 2018 year in the form of Subscriber Savings Accounts (SSAs). This brings the cumulative SSA allocation to $81 million… Continue reading PURE Allocates $21.5 Million to Its Membership
PURE Programs Expands Excess & Surplus Lines’ High Value Homeowners Insurance Into The Gulf Coast and Georgia
PURE Programs announced today expansion into Texas, Louisiana, Mississippi, Alabama, and Georgia, giving owners of high value, higher-risk homes in these states access to an exceptional insurance experience and broader coverage than is typically found in the Excess & Surplus (E&S) market. PURE Programs offers best-in-class claims handling and proactive risk management, along with broader… Continue reading PURE Programs Expands Excess & Surplus Lines’ High Value Homeowners Insurance Into The Gulf Coast and Georgia