Finsure Premium Finance has paid out a record £1.4 million to brokers participating in its profit pool scheme.
Finsure's brokers were offered the opportunity of increasing their income when they introduce, and retain, high-quality credit business to Finsure.
Currently, 20% of the credit charges made to brokers' customers are credited to the participating brokers' own profit pool. At the end of the quarter any bad debts arising on the business they have placed with Finsure are deducted from this pool and the remaining income paid to the broker.
