Solicitors offered option to spread the cost of PII cover and Practising Certificates
With many law firms receiving Professional Indemnity Insurance (PII) renewals at this time of year, Premium Credit is offering firms an award-winning finance option to spread the cost of renewing cover. Premium Credit is also providing an option to spread the cost of practising certificates, another annual cost.
Costs like PII can be a significant outgoing for law firms, in some cases exceeding other business payments such as facilities or rents. Premium Credit’s alternative payment method for cover is designed to give firms greater control over cash-flow, allowing their cash reserves to be spent more effectively in other business critical areas.
Owen Thomas, Chief Sales Officer, Premium Credit commented: “Inflation levels remain high and operational costs have been soaring. As such law firms of all sizes are feeling the effects of additional financial pressure and are looking for new ways to preserve cash flow.
As renewal deadlines for PII cover and practising certificates gets closer for many, paying for cover in monthly instalments instead of a one-off lump sum is a strong option for those looking to ease liquidity. It’s a straight forward application process and can be easily arranged by insurance brokers working on behalf of their customers.”
As a purpose-led business with a vision to be the ongoing, leading provider of instalment finance Premium Credit advises that it’s important to act in a timely way so firms have the opportunity to consider the best payment options for their businesses. Last year Premium Credit supported over 1000 solicitor firms by helping them spread the cost of their PII insurance costs.
For more information please contact: newbusiness@pcl.co.uk or visit www.premiumcredit.com
About Premium Credit
We are the leading provider of premium finance in the UK and Ireland, and the only company endorsed by BIBA.
We are authorised and regulated by the Financial Conduct Authority, and work with over 3,000 producers of all sizes. We serve over 2.1 million customers, process 24 million direct debits and receive advances of £3.5 billion.
For over 30 years, we’ve led the market through thought leadership, innovation and technology and have helped our partners offer finance compliantly to their customers through face-to-face, telephony and online channels.
We continue to invest to ensure we provide a quality service and support that helps you grow your business and commission. From the delivery of a seamless customer journey, which includes real time decisioning for financing and 24/7 account servicing, to consultation that improves the offer of finance to customers, we are committed to growing the premium finance market.
Our Specialist Lending division also provides finance to pay other annual costs, such as professional fees, membership subscriptions, commercial service charges, golf clubs and school fees.