premium finance
Markerstudy Distribution eyeing up consumer lending opportunities
Markerstudy Distribution is investigating the possibility of moving into consumer lending, CEO Emma Rawlinson told Insurance Age.
Premium Credit research shows finance options crucial to over 25% of insurance customers
More than one in four (27%) insurance customers would cut cover or switch to cheaper policies if they were not able to make monthly premium payments, according to research by Premium Credit.
Biba 2025 Countdown: Premium Credit’s Owen Thomas
Ahead of the annual event, Owen Thomas, chief sales officer at Premium Credit, underlines the importance of growing compliantly in uncertain economic times, recommends a reliable pit stop to refuel, and nominates Arch’s Mike Bottle as good football…
Premium finance costs ease ahead of FCA report
The cost of home and motor premium finance has fallen in the past six months, according to research by Pearson Ham.
Ardonagh Advisory strikes deal with new premium finance partner
Premium finance provider PremFina has announced a partnership with Ardonagh Advisory.
Which? calls out ongoing “hefty” premium finance charges
Consumer champions Which? have branded premium finance rates currently being charged by many insurers as “difficult to justify”, especially with car insurance where it found a third of rates are above 25%.
Biba renews 20-year-old membership agreement
The British Insurance Brokers’ Association has renewed its agreement with Premium Credit to provide a premium finance facility to its members.
Q&A with Andrea Wells of Premium Credit
Andrea Wells was recently recruited from Broker Insights by Premium Credit for its newly created role of head of regions and networks. In a Q&A with Insurance Age she shares her insurance market experience and plans for growing the business with brokers.
Premium Credit recruits Andrea Wells to develop network and regional broker partnerships
Premium Credit has recruited Andrea Wells from Broker Insights as head of regions and networks.
Premium finance: industry welcomes Supreme Court appeal and hopes for clarity
As evidenced by differing actions by premium finance specialists in recent months there are differing views in the market, but the hope remains that a Supreme Court case on motor finance, to be heard on 1-3 April, can help to bring clarity.
Keys Premium Finance partners with Touchstone
Keys Premium Finance has partnered with Touchstone Underwriting, Insurance Age can reveal, to bring products and personal service to brokers.
Blog: A premium finance cap might be the only end game to stop greedy profiteering
A cap on premium finance is needed to prevent overcharging, although a balance needs to be struck between offering fair value and guaranteeing a market exists to offer these products, writes Rosie Simms.
£1.3bn tech firm targets brokers with premium finance launch
Credit technology provider Abound has launched a new premium finance solution which it claims will “revolutionise” the sector by replacing “slow and outdated direct debit system with instant, automated payments”.
Close Brothers to launch digital commission disclosure consent solution
Close Brothers Premium Finance has announced plans to launch a new digital solution to help brokers fulfill their commission disclosure consent obligations.
No change to Premium Credit disclosure arrangements
Premium Credit is not asking distribution partners to make any changes to existing customer journeys after reviewing the implications of a legal ruling for commission disclosure in motor finance.
Blog: What implications could the motor finance scandal have on insurance brokers?
As the industry shoots itself in the foot. Again. Matthew Maxwell Scott, founder and executive director of the Association of Consumer Support Organisations explores how the motor finance scandal fallout might see brokers caught in the cross-fire.
Close Brothers bringing in written consent rule on commercial broker premium finance commission
Close Brothers will require consent from commercial customers for broker commissions for premium finance as of Monday 25 November.
RBC warns of potential £250m premium finance hit to Close Brothers
If a recent court ruling on motor finance litigation is upheld and spreads to premium finance Close Brothers could suffer a £250m hit, equity analysts RBC Capital Markets have warned.
Premium finance charges as high as 37% but dropping overall – report
Pearson Ham has found average premium finance costs for motor and home insurance fell over the last year but also revealed charges as high as 36.8%.
Premium finance review welcomed as EY warns of ‘heightened regulatory scrutiny’
Industry practitioners have broadly welcomed the Financial Conduct Authority launching a review into premium finance.
Industry reacts to government motor task force
The wider insurance market has given a mixed reaction to the UK government’s motor task force, with its industry-led approach questioned, but experts note it is a step forward.
FCA launches review into premium finance “fair value” and barriers to competition
The Financial Conduct Authority has launched a review, known as a competition market study, to see whether people who borrow to pay for motor and home insurance are receiving fair, competitive deals.
Why the future for brokers is data-driven
The latest Insurance Age Pulse survey explores how brokers are using data insight to guide business strategy, and reveals why more now see data as an essential factor for growth. Rachel Gordon reports
Top 100 UK Insurance Brokers 2024: Q&A with Open GI CEO Simon Badley
Simon Badley, the CEO of Open GI, the sponsor of the UK Top 100 Insurance Brokers 2024, reflects on the changing market, and how his company can help intermediaries navigate opportunities for further growth in the future.