B.C. brokers to offer insurance premium financing vehicle

The Insurance Brokers Association of B.C. (IBABC) says its members will offer a new premium financing program to small businesses through a partnership with Scotiabank and technology firm GHR Systems Inc.IBABC executive director says the move is a response to the rising premiums being faced by small brokers as a result of the hard insurance market. “That’s why it’s important to offer small business owners alternative financing arrangements that are innovative, competitive and easy to use.”The financing can be completed through brokers, using GHR’s web-based system.