- Posted: October 8, 2020 2:10 p.m.
- Last Updated: November 5, 2020 11:57 a.m.
- This page, Public Meeting Notice: Premium Finance Board October 13, 2020 meeting , is offered by
- Premium Finance Board
Public Meeting Notice Public Meeting Notice: Premium Finance Board October 13, 2020 meeting
Overview of Public Meeting Notice: Premium Finance Board October 13, 2020 meeting
This will be a meeting of the Premium Finance Board.
- Call to order
- Opportunity for opening statements from members
- Approval of minutes from prior meeting
- Discussion of:
- Available data regarding rates and types of available insurance premium finance contracts
- Compiling available information discussed in the previous meeting, potentially including some or all of the following:
- The total dollar amount of premium financed and number of policyholders by coverage line
- The interest rates charged to policyholders and how these rates are determined
- The structure of the finance agreements (e.g., down payment percentage and number of installments)
- The extent to which premium finance companies are taking on unsecured risk
- Financial results relating to the past few years of premium finance transactions (e.g., revenue, costs and profits, assets, liabilities and surplus)
- A summary of arrangements with insurance producers and other financial institutions, if any, relating to premium finance transactions
- An indication of the number and percent of premium finance transactions on which premium finance companies lost money over the past few years.
- Possible additional steps to obtain additional data
- Impact of the pandemic on premium financing in MA
- Possible dates for next meeting
- Discussion of issues above; potential scheduling for next meeting
All Premium Finance Board meetings are accessible to participants with disabilities. To request a reasonable accommodation, please contact Chloe Williams at Chloe.firstname.lastname@example.org or at (617)-963-2910.
Note: this agenda has been prepared in advance and does not necessarily include all matters which may be taken up at this meeting.