Credit where credit's due.
Premium finance is a popular way for brokers to promote cash flow, though a lack of regulatory interference means they must be vigilant and make proper checks before entering into an agreement. Simon Threadgold explains.
With insurers cutting commission and tightening up on profit sharing,premium finance has become increasingly valuable to brokers as an extra
income stream. Total commissions and overriders earned, in return for
arranging funding for instalment premiums, have reached substantial
proportions.
And premium financing is remarkably free from regulatory interference.
Premium finance companies are regulated by the Department of Trade and
Industry and the Office of Fair Trading, and funders and brokers
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