More than insurance – it’s a promise
With BRIE, you’re joining a community of homeowners who agree to share their individual risks and stand together in times of need.
What is BRIE?
BRIE (short for Builder Reciprocal Insurance Exchange) is an insurance company where policyholders – known as subscribers – share their risks and become members of the reciprocal exchange.
Who does BRIE serve?
BRIE is the go-to solution for homeowners seeking reliable coverage in new- or newer-home communities. BRIE offers competitive coverage options with high-quality policy and claims services.
Why BRIE?
As a reciprocal exchange, BRIE operates differently. Subscribers contribute to a shared reserve pool through their premiums and surplus contributions, which is used to pay claims and operating expenses. Unlike traditional insurance models that focus on profits for shareholders, a reciprocal exchange is member-focused—designed to serve its subscribers over the long term.
Growing quickly, BRIE plans to expand coverage nationwide. This will further grow the company’s surplus reserves and operational scale—key factors in maintaining steady premiums over time.
BRIE offers financial stability as well, earning an A (Exceptional) rating from Demotech, Inc., a financial analysis firm that has evaluated hundreds of insurance companies since 1985.
How do BRIE and Millennial Specialty Insurance, LLC (MSI™) work together?
MSI is the insurance service provider for BRIE. Subscribers can access documents, make payments, update personal information, and file claims in the MSI Customer Portal.
How do BRIE and Millennial Specialty Insurance, LLC (MSI™) work together?
MSI is the insurance service provider for BRIE. Subscribers can access documents, make payments, update personal information, and file claims in the MSI Customer Portal.
Already have a quote? Here’s how to accept.
Frequently Asked Questions
What is a reciprocal exchange?
Insurance companies can be structured in a number of ways, most commonly as stock insurers, which are owned by investors, or mutual insurers, owned by policyholders.
However, in a reciprocal exchange, policyholders share their risks and become subscribers of the exchange. Subscribers authorize an attorney-in-fact to manage the company’s operations, like issuing and servicing policies and handling claims.
Reciprocal exchanges are rated for financial strength, are approved by state insurance departments, and operate fully within state insurance laws and regulations. This includes protection for subscribers by state guaranty funds.
The reciprocal exchange model is time tested—some major insurance companies, such as USAA and Farmers, have employed this structure for many decades.
How does a reciprocal exchange work?
In a reciprocal exchange, people with similar risks, such as homeowners, pool money together and agree to insure each other’s losses by exchanging insurance contracts. By signing a subscriber agreement, they authorize a third-party attorney-in-fact to run the exchange’s day-to-day operations.
In addition to their insurance premiums, subscribers pay an extra surplus contribution to make sure the company’s reserve pool is well funded to pay claims and operating expenses. As the exchange scales up, subscribers are more likely to stabilize their insurance premiums over time.
Who manages the reciprocal exchange?
An attorney-in-fact manages the reciprocal exchange’s day-to-day operations. In BRIE’s case, that is Builder Risk Management LLC, which contracts with MSI to provide exceptional service to subscribers, such as managing claims.
Is BRIE an admitted or excess and surplus (E&S) lines company?
BRIE is an admitted insurance company, meaning it is approved by the insurance department in each state where it issues policies and operates within each state’s insurance laws and regulations. This also ensures that subscribers are protected by state guaranty funds.
What is BRIE’s financial strength rating?
BRIE is launching with an A (Exceptional) financial stability rating from Demotech, Inc., a financial analysis firm that has rated hundreds of insurance companies since 1985.
In which states are BRIE policies available?
BRIE is currently available in Texas, but BRIE is expanding rapidly and expects to operate nationwide in the coming years.
How are claims handled?
MSI provides claim service for BRIE, featuring a nationwide network of highly-experienced claims professionals. In the event of a covered loss, this team has deep expertise with homes of every value, enabling them to assist in restoring subscribers’ homes and contents as quickly as possible.
If you experience a loss, you can file a claim online or call the MSI Claims team at (844) 306-0752.
How do I accept my BRIE policy?
Your agent will email you a personalized policy quote, which you can accept online. You will also be able to sign the BRIE subscriber agreement and make a payment.
What is a subscriber surplus contribution?
A subscriber’s surplus contribution is money paid for the excess capital that insurance companies must keep in reserve in case premiums are not enough to cover losses. State regulators require every insurer to maintain a certain level of surplus.
A surplus contribution is required from each subscriber when they join BRIE and when the policy renews each year. The initial contribution will be 10% of the annual policy premium, which will be shown on the policy quote and declarations page.
Surplus contributions could actually save you money over time. The more reserves there are to pay claims and cover operating costs, the lower BRIE can keep your premiums.
What is a subscriber agreement?
A subscriber agreement outlines the structure, management and other features of the reciprocal exchange. When you accept a coverage offer from BRIE, you will need to sign a subscriber agreement online to become a member of the exchange. If you do not sign the agreement by the date requested, your coverage offer will expire and you may experience a lapse in coverage when your previous insurance ends.
How can I update my coverage or other policy information?
For coverage advice and policy changes, please contact your agent of record. If you’re not sure who that is, check your policy’s declarations page for the agency name and contact information.
How do I make a payment?
You can choose from convenient payment options on the MSI Customer Portal. When you sign in, click on “Customers”, then “Make a Payment” and follow the onscreen prompts.
To pay by phone, call Customer Service at (844) 994-4601.
To pay by mail, include a check with your policy number and make it payable to:
MSI
PO BOX 210788
BEDFORD, TX 76095
How do I file a claim?
If you experience a loss, you can file a claim online or call the MSI Claims team at (844) 306-0752.
MSI
PO BOX 210788
Bedford, TX 76095