The regulation concerning premium finance is found in ยงยง364.a hundred-364.a hundred and sixty, which incorporates licensing requirements, allowed charges of interest and refunding. A company licensed pursuant to this part funds insurance coverage premiums. The premiums financed will not be credit score insurance coverage premiums, but usually would come with things like owners insurance coverage or auto insurance. However, the vast majority of the premium finance business entails the financing of business insurance coverage premiums reminiscent of legal responsibility and workman’s compensation. Engaging within the enterprise of financing enterprise insurance coverage premiums doesn’t exempt an organization from the licensing requirement. In what could also be distinctive to Missouri law, there isn’t any prolonged list of entities that needn’t be licensed to do premium finance: even banks and trust companies should be licensed. Another uncommon characteristic is that the regulation has different necessities for disclosures, rates, and so on. for business …