Selling insurance and serving shoppers could be a labor of affection for booming brokers. Making associate degree in house premium non depository financial institution will create those arduous efforts a minimum of eighty fifth additional profitable. It may also give brokers with an extra tool to service accounts -- specifically, hard-to-place personal lines and enormous business lines accounts.
Sound simple? Not thus quick. Once massive players like AIG pull out of the premium finance arena, there's legitimate cause for added caution. However it's onerous to ignore the chance. If done properly, the many edges a broker offers their shoppers and they outweigh the potential risks. The stress here is on the words "if done properly."
In this spirit, we've summarized the highest half-dozen risks of in-house premium finance and ways that to avert them: