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WHAT DOES A PREMIUM FINANCE BROKER DO?

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WHAT DOES A PREMIUM FINANCE BROKER DO?

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A premium finance broker works with agents who wish to offer premium financing to their clients by taking care of the back office work and obtaining offers for financing. Premium finance brokers maintain close relationships with the various premium finance companies and usually obtain many different offers for financing on a single policy in order to get the best offer available for potential clients. Once all the financing offers have been collected, the broker will work with the agent a client to secure the new policy, execute the financing agreement and finalize the transaction. The selected program (or lender) will then begin to make the premium payments on the newly issued policy.

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