Premium Financing. With respect to Policies covered under the provisions of this Agreement, if any premiums are financed, the General Agent shall receive and accept on behalf of the Company all notices required by statute, contract or otherwise to be given to the Company, including, without limitation, notices of the existence of premium finance agreements or of cancellation of policies the premiums of which are financed ("financed policies"). No producing agent or any other agent shall be entitled to receive or accept any notice on behalf of the Company, and the General Agent shall be responsible for and will indemnify and hold the Company harmless from and against any and all liabilities, losses, claims, damages and expenses incurred by reason of or arising out of any action taken or inaction suffered as a result of receipt of any notice by any person, firm or entity other than the General Agent or the Company. Notwithstanding any other term or provision of this Agreement, the General Agent agrees to return and pay over to any premium finance company (whether affiliated with the Company or not) which has sent notice of cancellation of a financed policy to the General Agent, on behalf of the Company, within 30 days of receipt of such notice of cancellation, any and all unearned commissions as of the date of cancellation, together with any and all unearned premiums due any premium finance company. The General Agent agrees to and does hereby relinquish any and all rights to any unearned commissions for any such financed policy as of the date of cancellation. The obligation of the General Agent to refund unearned commissions and unearned premiums on a canceled financed policy shall survive the termination or cancellation of this Agreement for so long as any policy written under the terms of this Agreement remains in force. If the General Agent does not fulfill its obligations to refund unearned commissions and unearned premiums as provided in this Article XI and/or to indemnify the Company as provided in this Article XI, then the Reinsurer shall pay the amount of the refund owed and/or shall indemnify the Company even if the premium finance company is an affiliate of the Company.
Premium Financing. For the purposes of arranging premium finance, Jelf Insurance Brokers Limited acts as a credit broker and in arranging premium finance, we are acting on behalf of and owe a duty to the premium finance provider. We work exclusively with Close Brothers Limited, trading as Close Brothers Premium Finance (‘Close’) to provide a premium finance facility to our insurance clients – a loan with Close is designed for the repayment of insurance premiums only. We will provide you with information about this payment option on a non-advised basis – i.e. we are not providing you with advice as to the choice of finance provider or the suitability of the premium finance product and you will need to make your own decision about whether to proceed. If you do elect to finance your premium payments via Close, Jelf Insurance Brokers Limited will receive a payment in return for the work that it undertakes on behalf of the finance provider. Acceptance is subject to status and terms & conditions apply and Close may undertake an enquiry with a credit reference agency such as Experian when you make an application. The credit reference agency will add details of the search and the application to their record about you whether or not the application proceeds. Further details will be provided when an application for finance is made. Insurers own credit facilities may also be available if appropriate.
Premium Financing. The loan documents permit the borrower to obtain third party insurance premium financing so long as timely proof of payment is provided as such installments become due.
Premium Financing. 1. Manager will not use any premium ·finance company that is owned to any degree, or affiliated with the Manager, or any of its employees, on Policies issued under this Agreement. The entire premium financed must be forwarded to the Company in a time frame as directed by this Agreement, and will not be sent in installment or partial payments to the Company.
2. Manager will provide all services arising from premium financing including, but not limited to, promptly and appropriately responding to all correspondence and notices related to such premium financing, ensuring compliance with all Consumer Protection laws, rules or regulations, such as Truth in Lending and any relevant Premium Finance statutes in each state where the Manager writes business pursuant to this Agreement.
3. Manager shall ensure that all appropriate refunds of premium due to premium finance companies shall be timely made, and Manager shall be liable for, hold harmless, and indemnify Company against any such amounts improperly paid to the insured, or for refunds not made to the insured or to the premium finance company in accordance with the appropriate governing law.
Premium Financing. Not later than September 30, 2004, the Loan Parties shall have provided that all Permitted Indebtedness incurred in connection with the financing of insurance premiums complies with the provisions of Section 7.2(a)(xv) of this Agreement.
Premium Financing. 11.1. RS Risk Solutions Limited acts as a credit broker and, in arranging premium finance, we are acting on behalf of and owe a duty to the premium finance provider. We work with Close Brothers Limited, trading as Close Brothers Premium Finance (‘Close’) to provide a premium finance facility to our insurance clients. A loan with Close is designed for the repayment of insurance-related premiums only. We will provide you with information about this payment option on a non-advised basis, i.e., we are not providing you with advice as to the choice of finance provider or the suitability of the premium finance product and you will need to make your own decision about whether to proceed.
11.2. If you do elect to finance your premium payments via Close, we will receive a payment in return for the work that it undertakes on behalf of the finance provider. Acceptance is subject to status and terms and conditions apply. Close may undertake an enquiry with a credit reference agency, such as, Experian when you make an application. The credit reference agency will add details of the search and the application to their record about you whether or not the application proceeds. Further details will be provided when an application for finance is made. Insurers own credit facilities may also be available if appropriate.
Premium Financing. 1. Wholesaler recognizes that Producer may arrange premium financing for clients through established premium financing facilities. If Producer does so, Producer agrees to forward promptly a copy of the finance agreement to Wholesaler so that Wholesaler may be aware of its terms and conditions.
2. Producer further agrees to identify Wholesaler as the issuing agent on the finance agreement.
3. When finance organizations remit directly to the Insurance Carrier or its issuing agent, or in any instance that the premium is not remitted directly to Wholesaler, Producer shall not be entitled to credit for or payment of any commission on such transaction unless and until Wholesaler receives payment of the commission due to it on such business. Payments to Producer directly by finance company will not constitute payment to Wholesaler or any Insurance Carrier. In any such cases finance company assumes the risk of waiving their Power of Attorney until Wholesaler has been paid. Wholesaler and/or Insurance Carrier retain their right to cancel the policy for non-payment until paid.
Premium Financing. With respect to Policies, MGA shall have the authority to enter into agreements with premium finance companies ("PFCs"), to receive notices of premium financing, to receive proceeds of premium financing, and to receive and act upon notices and requests of cancellations from PFCs; but in entering into any agreement with a PFC, MGA will (a) promptly disclose the terms of such agreement to the Company, and (b) reserve the Company’s right (i) to terminate such agreement upon 30 days’ notice, and MGA will indemnify and hold harmless the Company from any penalties incurred as a result of such termination, and (ii) to cause such premium financing to be replaced by a competitive product offered by the Company or by another PFC in the marketplace. MGA shall not delegate this authority to any Agent. Subject to the PFCs contracts with the insureds and applicable statutes (e.g. F.S. §627.848) and rules and regulations of the State of Florida or of such other states in which the Company transacts insurance, and to the extent of the contract balances due the PFCs from the insureds, MGA shall return all unearned premium directly to the PFCs to the extent held by MGA and shall cause the Agents to return all unearned commission to the PFCs to the extent held by the Agents.
Premium Financing. We work exclusively with Close Brothers Ltd, trading as Close Brothers Premium Finance (Close) to provide a premium finance facility to our insurance clients – a loan with Close is designed for the repayment of insurance premiums only. We will provide you with information about this payment option on a non-advised basis – i.e. we are not providing you with advice as to the choice of finance provider or the suitability of the premium finance product and you will need to make your own decision about whether to proceed. If you do elect to finance your premium payments via Close, Yourshield will receive payment in return for the work that it undertakes on behalf of the finance provider. Acceptance is subject to status and terms and conditions apply and Close may undertake an enquiry with a credit reference agency such as Experian when you make an application. The credit reference agency will add details of the search and the application to their record about you whether or not the application proceeds. Further details will be provided when an application for finance is made. Insurers own credit facilities may also be available if appropriate.
Premium Financing. To use premium financing through unaffiliated licensed premium finance companies on the Policies. Notwithstanding paragraph 13 above, the MGA shall remit one hundred percent of the financed premium to the Insurer, and in no event shall the MGA hold any such financed premiums longer than allowed by Section III.14
