Pure Insurance Subscriber Savings Account
Pure allocates 22 million to subscriber savings accounts and for the first time makes a cash distribution to its most loyal members jul.
Pure insurance subscriber savings account. A simple card based savings account that gives you immediate access to your money. This marks the eighth consecutive year in which we ve made an allocation. Referral rate based on 2018 bain study and 2017 pure annual member survey. White plains n y july 23 2020 prnewswire privilege underwriters reciprocal exchange pure the policyholder owned property and casualty insurer designed for responsible high net worth.
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. Actual savings if any may vary. To date more than 100 000 000 has been allocated back to the membership through ssas. To find out more see our privacy statement.
Subscriber savings accounts ssas ssas are notional accounts held for each active pure subscriber. To learn more watch this video. This marks the seventh consecutive year in which we ve made an allocation. Subscriber savings account statement subscriber savings accounts ssas.
Average annual savings on homeowners insurance for members nationwide who reported prior carrier premiums from aug 18 through aug 19. 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. Pure allocated 22 000 000 into subscriber savings accounts ssas for the 2019 calendar year. 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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