There are three (3) elements required to have a well-conceived, properly managed and effective premium finance company:
- First, is the capital investment. The capital usually is in two (2) categories:
- owners' investment and
- leveraged or borrowed capital.
- Second, you need to be able to generate enough premium dollars to finance to make use of the capital in a manner that generates a high return on investment.
- Third, you need a backroom operation that assures you that the daily functions required are performed and are performed in the manner set by statute or your business plan.
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