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PURE eyes cyber, flood and wildfire as HNW coverage needs shift
PURE Insurance President Dave Logan said PURE’s personal cyber claim severity has risen to just over $40,000 from under $10,000 in 2015 to 2016, as pricing relief faces rising loss severity and widening exposures.
High-net-worth insurance is starting to see some homeowners pricing relief in select parts of the market, but PURE Insurance President Dave Logan warned that emerging risks tied to cybercrime, flood and wildfire are moving in the opposite direction as loss severity rises and exposures spread beyond historically high-risk areas, according to Insurance Business.
Logan said homeowners pricing is flattening or falling in some states, including Florida, while California property and personal excess liability continue to require rate action. He also noted that capacity is returning selectively, but underwriting still depends closely on property quality, geography and mitigation.
Cyber has been the most rapidly changing peril, driven by account takeover, investment fraud, impersonation, data theft and more convincing AI-enabled scams. Logan said PURE’s average cyber claim severity within its personal cyber portfolio quadrupled in about a decade, moving from just under $10,000 in 2015 and 2016 to just over $40,000 in the last two years.
Insurance Business also cited FBI Internet Crime Complaint Center data showing more than one million complaints and $20.88 billion in reported losses during 2025, a 26% increase from the prior year, with thousands tagged as AI-related. In response to growing gaps, PURE plans to expand its personal cyber offering by adding coverage for automobiles and cyber bullying, and by offering affirmative coverage for NFTs (non-fungible tokens).