Under the Michigan Insurance Code of 1956 (Code), MCL 500.1502(b), an Insurance Premium Finance Company (PFC) is defined as:
“a person engaged in the business of entering into insurance premium finance agreements.”
Additionally, Under the Code, MCL 500.1502(a), an Insurance Premium Finance Agreement is defined as:
“an agreement by which an insured or prospective insured promises to pay to a premium finance company the amount advanced or to be advanced under the agreement to an insurer or to an insurance agent in payment of premiums on an insurance contract together with a service charge as authorized and limited by this chapter.”
General Information
Once You Are Licensed
- Insurance Premium Finance Company Annual Renewal
- Insurance Premium Finance Company Frequently Asked Questions
- Cybersecurity – Michigan Insurance Data Security
Email any questions about PFC licenses, applications, or related matters to DIFS-LicensingORE@michigan.gov.