Commercial cover and the premium finance that pays for it, meant to be written off one file, so the desk that prices the risk is the desk that tells credit whether the premium can be financed.
A business needs commercial cover and does not want the whole annual premium leaving its account at once.
What we source
Cover limited to scenarios our platforms already understand, and the financed portion of its premium, secured by the unearned premium.
A program is where two of the lines the holding company is built to run meet on one scenario. The insurance line is meant to write the cover, by us or through a partner carrier, limited to a risk our other platforms already understand: the site, the books, the loss history, and the owner. The specialty finance line is meant to advance the financed portion of the premium to the carrier, secured by the unearned premium the carrier returns on cancellation, and the business repays it over the policy term.
What we run
One underwriting desk on one file: the policy and the insured priced once, then servicing, cancellation, and refund recovery.
The desk belongs to the holding company, not to either platform, and it keeps one file for both jobs, so the read that prices the risk is the read that tells credit whether the premium can be financed. Both halves are meant to sit on the same four controls as every asset we hold: underwriting before capital moves, in-house audit of how the book performs, a risk assessment of how the scenario fails before it is priced, and active management of the book day to day.
How it is checked
Underwriting, in-house audit, risk assessment, and active asset management.
The loan sits on a refund, not a promise.
Cover
By us or through a partner carrier.
Premium finance
The financed portion of its premium, secured by the unearned premium.
One underwriting desk
The policy and the insured priced once.
Servicing
Servicing, cancellation, and refund recovery.
Refund, not a promise
The loan sits on a refund, not a promise.
Repaid over the term
The business repays it over the policy term.
Premium finance is structured; the insurance line is in research, moving to structured. Neither is formed. Not an offer.
The desk reads the site, the books, the loss history, and the owner once, for the cover and for the loan.
Price
The risk is priced by our own underwriting, audit, and risk assessment before capital moves, and the risk that does not fit is turned away.
Finance
The financed portion of the premium goes to the carrier, the cover is bound, and the balance is repaid over the policy term against the unearned premium.
Service and recover
The schedule is meant to be serviced in-house; where a payment stops, the policy is cancelled and the refund recovered, so the loan closes on the refund rather than on a promise.
