Zurich offers help to real estate customers looking to free up capital and reduce tax liability
Complimentary access to a cost segregation consulting firm, CORE Solutions Group, can
create savings options
For Immediate Release:
SCHAUMBURG, Ill., September 27, 2011 – Commercial real estate owners looking to improve their cash
flow can take advantage of a tax strategy called cost segregation, which allows owners and investors to
accelerate the depreciation rate of their properties and take large tax deductions over a short time
frame.
Zurich, a leading provider of property and casualty insurance in North America and globally, is offering
policyholders access to CORE Solutions Group, a cost segregation consulting firm, through its real estate
practice group. Through this complimentary service, policyholders will be able to identify opportunities
for significant tax savings for property and asset managers.
Cost segregation is an IRS approved tax strategy, modified in 1997, that allows reclassification of real
property to personal property. Cost segregation is used to accelerate depreciation expenses and reduce
tax liability.
"Cost segregation is often overlooked because it is a niche strategy – but it shouldn't be ignored because
of its complexity,” said Don Gardner, vice president of National Sales at CORE Solutions Group in
Birmingham, Mich. “Owners and investors typically experience substantial benefits from this strategy.”
Providing policyholders and brokers access to a specialized vendor like CORE Solutions Group is one way
that Zurich is looking to further support its real estate clients within North America, said Dan Kleiman,
head of Zurich's real estate practice.
“We are continually looking for ways to add value to our customers and
brokers beyond real estate insurance coverage,” Mr. Kleiman said. “By providing access to specialized
strategic alliances like CORE Solutions Group, we provide the customer with options to help free up cash
flow and lower their total cost of risk."
Properties that undergo cost segregation studies can usually see significant increases in deductions
within the first five years of doing an analysis due to accelerated depreciation, Mr. Gardner said, adding
that each property is different with some being reclassified and accelerated at a faster rate.
Zurich's real estate practice offers a team of dedicated underwriting specialists across the U.S. along
with bundled protection solutions for property & casualty to help real estate owners and managers
reduce their risk of coverage gaps. With a dedicated real estate underwriting staff of 22 underwriters
and 2 practice leaders geographical spread across nine
locations in the U.S., Zurich understands regional real estate issues and risks.
For more information about cost segregation, download the whitepaper, "Cost segregation strategies
for Commercial Properties"
http://www.zurichrealtalk.com/whitepapers/cost-segregation-strategies-commercial-property
For more information about Zurich's real estate practice, visit
http://www.zurichna.com/zna/realestate
About Zurich
Zurich Financial Services Group (Zurich) is a leading multi-line insurance provider with a global network
of subsidiaries and offices in Europe, North America, Latin America, Asia-Pacific and the Middle East as
well as othermarkets . For more information about Zurich’s business in North America, go
to http://www.zurichna.com/zna/media/news-releases/archive/boilerplate.htm
About CORE
CORE offers a unique staff made up of tax and legal professionals as well as a team of engineers that
have intimate understanding and experience with this somewhat complex and often misunderstood tax
strategy. CORE has performed thousands of engineering studies with zero disallowances. All of
CORE's work is backed by their Service and Audit Guarantee. For more information about CORE’s
business, go to http://coresolutionsgroup.net/
For more information on CORE Services please contact Terry Judge at tjudge@coreadvisors.net
Media contact:
Jeff Casale
Zurich, North America
(847) 413-5439
jeff.casale@zurichna.com