This resource guide provides key information about First Insurance Funding and how premium financing works for eligible Excess & Surplus (E&S) policies placed through Bold Penguin.
First Insurance Funding is Bold Penguin's integrated premium finance provider. Premium financing gives eligible insureds the flexibility to spread the cost of their annual insurance premium into scheduled monthly payments rather than paying the full annual premium upfront.
When is First Insurance Funding Used?
Many Excess & Surplus (E&S) policies available through Bold Penguin's E&S markets are agency billed.
Unlike many admitted carriers that offer direct monthly billing, agency-billed E&S policies generally require the entire annual premium to be collected before coverage can be bound.
For eligible policies, First Insurance Funding provides an integrated financing option that allows insureds to:
Make a required down payment.
Finance the remaining premium balance through scheduled installments.
Complete the financing agreement electronically as part of the binding workflow.
Premium Finance Workflow
For eligible policies, the process is as follows:
The insured receives a quote from an eligible E&S market in the Bold Penguin Terminal.
The insured elects premium financing, if applicable.
A First Insurance Funding Premium Finance Agreement is automatically generated.
The insured reviews and electronically signs the Premium Finance Agreement.
The insured selects whether to:
Finance the premium through installments, or
Pay the annual premium in full.
If financing is selected, the insured submits the required down payment by credit card.
Once payment has been confirmed, the policy is eligible for binding.
⚠️ Important: Signing the First Insurance Funding Premium Finance Agreement does not commit the insured to financing the policy.
The premium finance loan is finalized only if the insured selects the installment payment option at checkout.
If the insured chooses to pay the annual premium in full, they may:
Decline the Premium Finance Agreement, or
Sign the Premium Finance Agreement and still pay the premium in full.
In either case, no premium finance loan will be created, and any signed Premium Finance Agreement will be considered null and void.
Payment Options
The Bold Penguin Terminal currently supports 💳 Credit Card payments for premium finance down payments.
Pay Online (24/7/365) | Make a payment online through FIRST Insurance Funding |
Pay by Phone (24/7/365) | Call 800-837-3707 and follow the prompts to pay with your bank account.* Spanish-speaking representatives are available upon request during business hours. Representantes que hablan español están disponibles a pedido durante el horario comercial. |
Pay by Mail | Mail checks to:
Address overnight checks to: |
Cash Payments | Use Western Union Wire transfer and coupon books available upon request. A fee may apply to some of the options listed. Please allow up to one business day for payments to post to your loan. |
Need Assistance?
If you have questions regarding premium financing or the payment workflow, we're here to help.
General questions (process, best practices, etc.) | Contact your Customer Success Manager (CSM) |
Pre-bind questions (quoting, financing eligibility, the binding process, etc.) |
North Peak Access Underwriting team |
Post-bind questions (servicing, payment-related issues, endorsements, etc.) |
North Peak Access Service team |
Terminal questions/issues | support@boldpenguin.com or Live Chat
Bold Penguin Terminal Support team |
Frequently Asked Questions
Does my insured have to finance the premium?
No. Premium financing is optional. Eligible insureds may either:
Finance the premium through First Insurance Funding, or
Pay the annual premium in full.
Can I use my own premium finance company?
No. At this time, the Bold Penguin Terminal only supports premium financing through First Insurance Funding. Third-party premium finance companies cannot be used within the integrated payment workflow.
Why is the Premium Finance Agreement included if my insured plans to pay in full?
The Premium Finance Agreement is automatically generated for eligible policies as part of the checkout process.
If the insured decides to pay the premium in full, the finance agreement can be skipped, or, if already signed, it will automatically become null and void once full payment is made.
What payment methods are accepted?
Currently, credit card is the only payment method supported for premium finance down payments completed through the Terminal. Support for ACH/bank payments will be available in a future release.
Are there any credit card processing fees?
No. There are no additional fees for submitting a premium finance down payment by credit card through the Terminal.