BrokerFest 2023

BrokerFest 2023: Cost of living crisis boosts premium finance popularity

By Jon Guy 2023-02-27T09:00:00

inflation finances cost pressures

Brokers must provide clients with ‘every available option’ to pay for premiums, says senior account manager

BrokerFest: The cost of living crisis has prompted increasing numbers of businesses to turn to premium financing in an effort to lessen pressure on finances.

Vinnie Vasudevan, senior account manager at Premium Credit, told delegates at Insurance Times’ BrokerFest 2023 event last week (23 February 2023) that the use of deferred and staggered payments may well have a key role to play in the insurance industry’s efforts to solve the underinsurance crisis.

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