Insurance Premium Finance - DFPI

Insurance Premium Finance - DFPI Insurance Premium Finance The California Industrial Loan Law provides a special type of license for financing insurance premiums. Through licensing, regulation, and oversight of these lenders, DFPI supports a healthy and trusted financial marketplace. Search Premium Finance Companies Under the California Industrial Loan Law (California Financial Code Section 18000 et. seq.), a special type of license is available for the purpose of financing premiums for insurance policies. The permissible activities for these companies are limited to advancing money directly or indirectly to an insurer or producer at the request of an insured pursuant to the terms of a premium finance agreement. Under the Industrial Loan Law, premium finance agencies are required to form a California corporation or amend the articles of an existing California Corporation for the specific purpose of engaging in the business of financing insurance premiums. Laws & Regulations California Code of Regulations California Financial Code Reference Applying Premium Finance Agency License Reporting Requirements Publications & Forms Directory of Premium Finance Companies Notice to Individual – Use of Information FDIC 3064-0006 – Interagency Biographical and Financial Report Form (PDF) FDIC 3064-0006 – Department of Financial Protection and Innovation Supplemental Instructions (PDF) DFPI 550 – Emergency Contact Person Information (PDF) Form 1802 – Stock Purchase Questionnaire (PDF) Form 1815 – Premium Finance Agency Application (PDF) Form 1820 – For Item 2(d) of the Premium Finance Company Application (PDF) Form 1821 – Customer Authorization of Disclosure of Financial Records (PDF) Reporting Requirements The quarterly unaudited financial statements are due at the call of the Administrator in accordance with California Financial Code §18407. The annual audited report is due in accordance with California Financial Code §18405. Due dates for future reports are below. Quarterly Unaudited Financial Report As of Close of Business: Received No Later Than: March 31, 2018 April 30, 2018 June 30, 2018 July 30, 2018 September 30, 2018 October 30, 2018 December 31, 2018 January 30, 2019 Annual Audited Report As of Close of Business: Received No Later Than: December 31, 2018 March 15, 2019 News & Info Links Newsroom Press Releases Monthly Bulletins Important Notices How to reach us: Department of Financial Protection and Innovation Division of Corporations and Financial Institutions One Sansome Street, Suite 600 San Francisco, CA 94104-4428 Phone: (415) 263-8500 Fax: (415) 288-8830 Email: [email protected]