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:
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:
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.
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 |