What is insurance premium financing?
Premium financing allows an organization to spread insurance costs over a specified payment period instead of having to pay a lump-sum advanced payment.
In some cases, premium financing makes it possible for a business to afford the full and proper insurance coverage they might not have the ability to purchase due to cash flow limitations.
Cash flow that was previously tied to an advanced lump-sum insurance payment is now available as operating capital. Financing solutions can also be applied to seasonal business revenue streams or scheduled around payroll dates for additional control.
Premium financing is one more tool to make your risk management program simple, controllable, and predictable.
CMB Insurance Brokers can arrange competitive and flexible terms through various lenders if you need a finance plan to spread out insurance premium payments.