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PROVIDER TIP SHEET |
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FIRST INSURANCE FUNDING
450 Skokie Blvd., Ste 1000, Northbrook, IL
60062
Phone, 800-837-3707 Fax, 888-837-2470
Helpful Hints
Processing:
Agreements will be processed and funded
within 24 to 48 hours of receipt, provided
that the following procedures have been
followed: 1. Agent and insured have signed
the agreement (or in states allowed, agent
has signed on behalf of the insured). 2.
The agreement has been dated. 3. Payments
due within 10 days of the due date are
collected by the agency with the down
payment. 4. Policy information completed,
including: effective date, policy type,
insurance company and general agent (if
applicable), premium, taxes and/or fees.
5. Correct down payment (see below
Standard Terms)
Additional Premiums:
Please call First Insurance Funding for
quote.
Carriers and Brokers:
Eligible carriers must have an AM Best
rating of B+ V or better. Exceptions may
be made, but must be approved. Please
contact Tina Larsen at PFB with
information.
Large Agreements:
Agreements with an amount financed over
$500,000 require current financial
statements.
Agreements over $25,000 must have the second
page included in fax and for contracts over
$100,000, the original must be mailed.
How to Check an Account Online:
Click Here
Holding Accounts from Cancellation:
Most accounts will cancel 21 days after the
due date if not paid. In most cases, if
asked, FIF will hold an account for 3-4
days or more.
Request for Reinstatement:
If an insured pays a cancelled account
up-to-date, FIF will request
reinstatement, in most cases, within 7
days from receiving the insured’s check.
However, if paid with certified funds, a
request to reinstate will be issued right
away.
Rate and Term Exceptions:
We recognize that there will be instances
when you will need better terms and rates.
Please call Tina or Stewart at
866-381-6501 and we will be happy to
accommodate you.
Standard
Terms
Standard Account (with no minimum earned
provision or extended cancellations):
20% down plus any non-refundable fees, 10
payments.
Minimum Earned: The down payment
must include all minimum earned premium
plus any non-refundable fees and 9
payments.
Extended Cancellation: Standard
down payment, plus 5% for every 30 days of
extended cancellation and 8 payments.
Assigned Risk Workers Compensation: 35%
down or $750, whichever is greater and 8
installments.
Canal Insurance: 26% down plus all
non-refundable fees and 9
payments.
Scottsdale Insurance: All
Scottsdale policies have at least a 25%
minimum earned provision
First Insurance
Funding contacts...
First Insurance
Funding Forms...
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