DESCRIPTION
This course provides an overview of insurance premium finance and Consumer Credit for insurance intermediaries in their regulated distribution activities, covering what it is, how it operates, the core financial aspects, and key considerations and requirements for intermediaries when offering premium finance. Learners will gain an awareness and understanding of premium finance and expectations around its sale and use within the insurance industry.
OBJECTIVES
- Define premium finance, how it works and explain its significance within the insurance industry
- Understand the rules and regulations as they apply to the provision of premium finance for insurance products
- Understand the role of and expectations of intermediaries in offering and arranging premium finance
- Recognise the (potential) impacts and risks of premium finance on financial resilience and vulnerable customers
