Pure Insurance Subscriber Savings Account
Pure insurance subscriber savings account. Referral rate based on 2018 bain study and 2017 pure annual member survey. Learn more about ssas at. 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. 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.
Ssas are a valuable benefit of membership with pure. While future ssa allocations are not guaranteed pure has made an allocation in each of the past six consecutive years. Pure will make an allocation of 21 500 000 into subscriber savings accounts ssas for the 2018 calendar year. This marks the eighth consecutive year in which we ve made an allocation.
Subscriber savings account statement subscriber savings accounts ssas. This marks the seventh consecutive year in which we ve made an allocation. Subscriber savings accounts ssas ssas are notional accounts held for each active pure subscriber. 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 allocates 22 million to subscriber savings accounts and for the first time makes a cash distribution to its most loyal members jul. 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. A simple card based savings account that gives you immediate access to your money. To date more than 81 000 000 has been allocated back to the membership through ssas.
To learn more watch this video. To find out more see our privacy statement. Average annual savings on homeowners insurance for members nationwide who reported prior carrier premiums from aug 18 through aug 19. 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.
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