Edmond Consulting Group LLC
Edmond Consulting Group LLC

Contact Us

Edmond Consulting Group LLC

PO Box 1294

PALMETTO, GA 30268

 

 

Or you can reach us at 

(803) 716-9901

 

You can also use our contact form

News

New Online Website

Now you can find out everything about our services on our Website.

Your Insurance Premium Financing Partners

Edmond Consulting Group and PFA can help your clients spread the cost of their insurance coverage over a period of time, setting them free from large, up-front premium payments.

Because we have strong relationships with agents and brokers throughout the entire U.S., we offer insurance premium financing solutions with competitive terms and rates to businesses and professionals for several areas of non-standard coverage.

Our specialties include:

  • Property & Casualty Insurance Premium Financing
  • Life Insurance Premium Financing
  • Corporate-Owned Life Insurance (COLI), also known as "key person insurance," for small- to medium-sized businesses

What is insurance premium financing?

Insurance Premium Financing, sometimes referred to as premium funding, is an option for businesses or individuals in need of non-standard insurance coverage such as commercial and higher risk policies. Unlike standard, lower-risk insurance policies such as home or automobile insurance, which let the insured spread out payments through the year, non-standard policies typically require that you pay your entire premium in one lump sum at binding or within 30 days.

This is where insurance premium financing comes in. A premium financing company lends you or your company the funds to cover the cost of your insurance premium. You sign a premium finance agreement, and the premium finance company pays your insurance premium and bills for the cost of the loan.

Property and Casualty Insurance Premium Financing

Edmond Consulting Group LLC and PFG represents several established premium finance companies licensed in all 50 states. We offer insurance premium financing for non-standard commercial and personal insurance coverage. As an agent or broker working with Edmond Consulting Group LLC and PFG, you get instant access to online management tools including estimates, billing, and reporting.

Our specialties include:

  • Commercial Property and Casualty Insurance
  • Personal Lines Premium Financing
  • Life Insurance Premium Financing
  • Insurance Agency Loans - Secured against renewal income
  • Hard Money Lending

 

Life Insurance Premium Finance has become mainstream and, indeed, the de facto method of funding large life insurance policies intended to be kept to maturity. ECG and PFG has a unique competitive advantage in that not only do we have manifold relationships with financing sources, but also we have the creative wherewithal to develop a structure that may not otherwise work.

By bringing your life insurance premium finance case to ECG and PFG you engage a team of professionals to assist in structuring the life insurance properly, structuring collateral efficiently, and obtaining a good fit for the source of capital. Life insurance premium financing is not an arena for amateur practice; hire the experts to get your case completed.

 

 

Down Payment and Installment Requirements

The following chart below highlights what Edmond Consulting Group expects from our clients and what our clients can expect from us. Also, ECG will finance carriers with a B+ or better rating and a V or better size. These terms must be adhered to in order to avoid any funding or processing delays. Exceptions must be made in advance by calling 803-716-9901.

Rule

Default Down Payment %

Default Installments

Standard Plan for new business (new to the PFC)

20%

9

Renewal Business (Renewal to the PFC)

20%

9

6 Month Policies

40%

3

Quarterly Installments

40%

3

30 Days to CX

30%

8

Assigned Risk Policy

35%

8

Auditable Policy

25%

9

PUC/ICC Filings

30%

8

Short Rate Policies

30%

9

Work Comp Policies

35%

8

Workers Compensation Assigned Risk

Required Management Approval

Minimum Earned Premium

Down payment must be equal to or greater than minimum earned

D&O Policies

Requires Management Approval

Liquor Law Liability

Requires Management Approval

Loans over $100,000

Can be quoted by your agency, but management approval is required for acceptance

 

 

 

 

 

 

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