By the Division of Banks

Financing Of Commercial Insurance Policies

Chapter 174, Section 1 of the Acts of 1997 exempts the financing of commercial insurance policies from the maximum interest rates established by the Insurance Premium Finance Board. The maximum rate governing the financing of insurance premiums for personal, family or household purposes, in 955 CMR 2.00 et seq., is 18% plus a $16 administrative fee . Chapter 174 § 3 exempts insurance agents or brokers, who finance exclusively their own customers' commercial insurance policies, from licensing under Mass. Gen. Laws chapter 255C.

Recommended Content

People also viewed...

You recently viewed...

Personalization is OFF. Your personal browsing history at Mass.gov is not visible because your personalization is turned off. To view your history, turn your personalization on.

Learn more on our .

*Recommendations are based on site visitor traffic patterns and are not endorsements of that content.