Privilege Underwriters Reciprocal Exchange (PURE), an insurer targeting the high net-worth market, is now offering property-casualty insurance, primarily to costal properties in Rhode Island.

Ross Buchmueller

Ross Buchmueller, president and chief executive officer of White Plains, N.Y.-based PURE, a specialty insurer, said the company is writing customized personal insurance coverage without mandatory hurricane deductibles to owners of “well-built, high value homes” in Rhode Island.

PURE also is writing policies for automobile, jewelry, art, personal liability and watercraft insurance for qualified individuals and families in the state.

“Because many owners of high value homes along Rhode Island’s coast from Watch Hill to Newport have seen their premiums go up and their choices diminish, PURE’s entry should bring valuable stability to Washington and Newport counties,” said Buchmueller in a statement.

PURE also writes policies in New York, New Jersey, Connecticut, Florida and South Carolina, and has obtained licenses in Texas, Alabama, North Carolina and Georgia.