Premium financing is one of several sources of outside funding available for an insured beyond using its normal credit lines, said Counselman, who also is a director and former chairman of the Council of Insurance Agents & Brokers, vice president and director of Professional Agencies Reinsurance Ltd., former chairman and director of Assurex Global and director of the
American Institute for Chartered Property Casualty Underwriters. The typical premium financing customer is a commercial insured that doesn't want to pay 100% of its property/casualty premiums at the inception date, in cases when an insurance company is not already offering a payment plan, he said.