How do collections in Insurance Premium Finance Company differ from a car loan or a mortgage?

The hard way: other lending activities like auto, equipment, and property require repossession or foreclosure in order to recover the collateral. Each of these require considerable time and effort, often requiring specific processes that can be complicated and messy.

The easy way: P&C Insurance premium finance in comparison, is as simple as printing a cancellation form and mailing it to the insurance carrier/company. State law governs the return of the unearned insurance premium for a loan in default.