Collaboration and Commitment are the Key
Zurich ProgramsArticleMay 19, 2025
“Collaboration is the key constant” in how Breckenridge's program team approaches working with agents, brokers, and Zurich.
The relationship between Breckenridge, an Accretive company, and Zurich North America is time-tested and proven effective. The relationship began in 2013 and continues to grow as a reflection of both parties’ commitment to delivering solutions that solve real property risk challenges for clients nationally.
This collaboration now spans three distinct program offerings: Vacant Property, E&S Commercial Properties and Real Estate Investor Portfolios. These programs are led by one of the original Breckenridge founding underwriters on the program, Michael Marks, ARM, ASLI, who has more than 35 years of industry experience. Today, this team is responsible for one of the biggest property programs at Accretive.
Leadership and Expertise
With three additional Breckenridge property team underwriters, Marks sees even greater success ahead for the group. He shared, “We are seeing a lot of deepening partnerships with our core agents as they know the program is solid and our underwriting team is responsive. As each new account is submitted, we get to business and sharpen our pencils to provide competitive quotes.”
The alignment with Zurich is a key selling point for agents looking for quality coverage solutions, financial stability and great claims service. In property, there are shifting appetites and carriers who come and go. “Knowing Zurich is our carrier is a huge differentiator as their reputation is one of excellence,” Marks added.
Each of these Breckenridge non-admitted programs is uniquely positioned to meet the needs of the properties and solve a problem in the marketplace. With the economic impact of COVID-19 in the recent past and volatility in the weather and the stock market of late, property utilization and investments will once again shift.
“Having these programs all within one team allows for us to be a dependable partner for any changing circumstances,” stated Trevor Pierce, CEO of Breckenridge. “The relationship we have with Zurich gives us access to incredible insights and understanding of where the property market is heading and how best to help our clients be prepared for it,” he added.
Spotlight on Vacant Property Program
For example, the Vacant Property Program is seeing more Builders Risks that need a home for six to 12 months as construction is delayed before occupancy is granted. Also, many carriers exclude vacant properties from master policies as they pose unique risks. These market shifts —along with typical vacant properties risks— are ideal opportunities for agents as we offer customized terms such as Actual Cash Value or Replacement Cost Value.
Clients additionally need to be aware of their ability to influence the vacant property rates they receive, as they directly correlate to how actively managed these vacant builders are by technology and in-person oversight. The biggest claims seen outside of weather perils and fire are those that could have been prevented, such as lingering water leaks and frozen pipes bursting. Agents who provide counsel on what underwriters are looking for in assessing these risks, including security best practices, will be two steps ahead of their competitors.
The E&S Commercial Properties written by the team span lessors’ risks, senior housing, shopping and retail outlets, hospitality, medical and more. With high available limits and options for flood and earthquake, coupled with the authority to write schedules of values up to $75MM in house—or referred to Zurich if higher—there is no property risk they cannot consider. Premiums for these E&S risks start at $10,000.
It is not a secret that many standard carriers are losing their appetite for properties of all types. Establishing a relationship with other markets is vital for agents to navigate these changing interests and the Breckenridge programs team is seeing an increasing need for capacity now. As with any such relationship, the team is interested in shared growth beyond one account and across varied geographies.
Real Estate Investor Program: Flexibility for Portfolios
Lastly, the Real Estate Investors (REI) program is designed for one- to four-unit rental dwelling schedules of 5 to 10,000 units. This non-admitted monoline property solution caters to investors who need the flexibility to buy and sell properties in their portfolios without placing individual policies for each property.
The REI program has some sizable portfolios but works just as well for the mid-sized investor. With a deep knowledge of this insured audience, agents know they will be saving time too when reaching out to the experienced team at Breckenridge. Underwriters gather the necessary details early so they can assess exposures that might be unique to the mix of properties’ locations to save time and avoid surprises.
A Legacy of Program Excellence
Breckenridge, in its 16th year of operation, is well-versed in collaboration with program markets. They offer 20 programs, some of which date back to well before the organization officially formed.
Pierce stated, “Early in Breckenridge operations, we knew we wanted to build programs with great carriers such as Zurich. Unlike our brokerage business, programs are a much more intense and formal commitment where both parties are working towards shared goals and outcomes in underwriting integrity and growth. Programs require significant set up and ongoing coordination in processes, technology, and operations.”
Over 12 years of working together, Breckenridge and Zurich have co-presented several agent educational webinars, provided timely market insights and shared best practices for protecting vacant client properties.
“Our Zurich relationship is one that has always added value for our clients and insureds and will continue to do so,” Marks stated. “Our plans for our shared future and where this program can continue to grow are exciting, as we know there are a lot of fantastic opportunities ahead.”
Breckenridge website: https://www.breckis.com