Introducing PURE Specialty Exchange

Privilege Underwriters , a member of Tokio Marine Group and its subsidiary PURE Specialty Risk Management, has announced the launch of PURE Specialty Exchange (PSE), an Arizona-domiciled domestic surplus lines insurer.

Through a reciprocal exchange model, PURE Specialty Exchange will begin accepting new members later this spring. Initial writings will include a California program for primary and secondary homes with replacement values of $1 million or more with a focus on high-quality risk profiles recently dislocated by carrier contraction, various homeowners offerings in Alabama, Georgia, Louisiana, Massachusetts, Mississippi, North Carolina, New Jersey and South Carolina for high-value homes and condominiums that have specific, challenging exposures including frequently rented-to-others, coastal locations, and prior losses, and an excess liability program.

The company has earned a Preliminary Credit Assessment with a Financial Strength Assessment of “A” (Excellent) and a Long-Term Issuer Credit Assessment of “a” (Excellent).