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
Publications & Forms
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 |
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]