Privilege Underwriters Reciprocal Exchange (PURE) has begun offering property-casualty insurance coverage in New Jersey, focusing on high-value homes.

Ross Buchmueller

The White Plains, N.Y.-based company is awaiting New Jersey regulatory approval of its automobile policy filings and expects to “make a big push” in the state once those are approved, company officials said.

The company already has approval to write home, auto, jewelry & art, personal umbrella and watercraft coverages in New Jersey.

“PURE recognizes that homeowners today are seeking smarter financial alternatives and access to the right insurance coverage, and as a specialist insurer that carefully selects its members and runs the company for its members’ benefit, PURE can meet those needs and provide significant insurance savings, higher quality coverage and superior service,” said Ross Buchmueller, president and chief executive officer with PURE Risk Management LLC, in a statement.

The company just began offering policies in New York as well.

As a reciprocal insurance exchange, PURE is member-owned. Members pay a surplus contribution of 10% of their high-value homeowners’ premium and 4% of their premium for all other policies, for each of the first five years of membership. PURE and the PURE Group of Insurance Companies serve more than 3,200 members.

PURE previously focused on Florida and South Carolina since the company was founded in 2006.