Pure Insurance Subscriber Savings Account
This marks the eighth consecutive year in which we ve made an allocation.
Subscriber savings accounts ssas ssas are notional accounts held for each active pure subscriber. Average annual savings on homeowners insurance for members nationwide who reported prior carrier premiums from aug 18 through aug 19. To date more than 100 000 000 has been allocated back to the membership through ssas. Surplus allocated to these accounts remains on pure s balance sheet and is available as part of its overall.
Ssas are notional accounts that remain on pure s balance sheet supporting pure s overall claims paying ability in the name of each qualifying pure member into which pure may allocate surplus. Pure is committed to returnits underwriting profit back to subscribers by allocating it to ssas and will look to return at least a portion of any surplus growth in yearswithout underwriting profit. A simple card based savings account that gives you immediate access to your money. The benefits and obligations of membership are unchanged including surplus contributions and subscriber savings accounts ssas.
Pure allocated 22 000 000 into subscriber savings accounts ssas for the 2019 calendar year. And we remain committed each year to return to members any premium collected in excess of the claims and expenses paid by pure through allocation to ssas. Ssas are a valuable benefit of membership with pure. Learn more about ssas at.
To find out more see our privacy statement. This marks the seventh consecutive year in which we ve made an allocation. Pure will maintain separate individual savings accounts ssa for each subscriber and set aside as a credit for each subscriber a portion of the savings realized on contracts of insurance issued to all subscribers. In order to keep pure s cost of capital low which helps support lower premiums members will continue to make surplus contributions for each of their first five years of membership.
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