Juicy benefits.
More and more brokers are savouring the delights of the premium finance market - the business provides a welcome boost to their income and clients are given lower rates than those usually offered by insurers, says Steve Banner.
Rising insurance costs are prompting more and more businesses to optfor premium finance so they can spread payment for the cover they need
over several months, rather than part with a lump sum. As a result,
business is booming for the finance companies and the growing number of
brokers offering such payment plans are benefiting from a useful
additional source of income.
Bob Golden, chief executive of Close Premium Finance, estimates that the
commercial lines premium finance market is worth £5bn to
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