Benefit Beyond Profit

In addition to the added revenue your premium finance subsidiary will generate, owning your own premium finance company gives you the flexibility to service your policyholders with minimal risk. Premium finance loans are secured by the down payment and each loan is structured so that if the borrower defaults during the repayment period the insurance policy is cancelled and more than sufficient unearned premium should remain to pay off the loan (assuming appropriate down payment was secured at the time of booking).

COST receives all payments sent to your premium finance company and return premiums from insurance companies and other sources. Your customers make their payments directly to your premium finance company, and we deposit these funds as we receive them into your finance company's bank account. Payments can be received via lockbox service if desired. COST maintains NO signature authority on any client account, and for additional security and peace of mind we carry both Fidelity and Insurance Premium Finance Company E & O coverage.