Thanks Mainemiss for taking the time to clarify your premium finance structure. That helps... We were looking to focus on paying the insurance company directly whenever possible. Do you ever work under this type of arrangement? Going this route we are looking to minimize fraud, and keep rates as low...

Thanks Michael for your reply. I pulled up the website for your company and see that your firm specializes in providing service to insurance agencies. When you say that the premium finance company transfers money into your account for you to post to clients accounts I see the potential for similar f...

Hello Grinshan, I'm not sure based on your response that we are discussing the same type of arrangement. With the premium finance that my question applies to it is where a broker will write insurance policy(ies) for an insured. Say for a total annnual premium of $10,000. Instead of making some large...

Thanks mclureins for your reply. It is reassuring to know it is your opinion too that we can do business without using drafts. I wasn't sure if non use of drafts would limit our growth, but it looks like you've been able to grow. We looked at all premium finance backoffice companies I could find, in...

We are setting up a new insurance premium finance division at a bank in NY State and are looking to set up without the use of drafts being given to insurance brokers. Do any brokers feel that not providing drafts will limit our ability to write premium finance? As an insurance broker, I had always d...