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CG Premium Finance, Inc. is a Texas-licensed insurance premium finance company acquired by the group in 1989. In addition to providing open market premium financing, CG Premium Finance enjoys exclusivity as the premium finance company endorsed by the Texas Windstorm Insurance Association. Texas Windstorm Insurance Association, a quasi governmental entity with over $60 billion in wind exposures in the Tier I counties of Texas, wanted a more affordable financing mechanism for the residents and businesses of the Texas coastline than could be obtained by agents and companies in the open market.

The Texas Windstorm Insurance Association has since endorsed CG Premium Finance, Inc., who has secured financing through a cost-advantaged facility, and teamed as its partner to provide the Texas windstorm customer a predatory-free lending environment. As opposed to the maximum permitted 31.06% interest rate allowed under the Texas Finance Code and prevalent in the business, CG Premium Finance provides premium financing to both personal and commercial windstorm risks at an interest rate of no less than 5.6% above LIBOR for premium $10,000 and less and an interest rate of no less than 4.6% above LIBOR for premium above $10,000. As of September 1, 2009, these rates were 9.65% and 8.65%. These rates are fixed at the time the Note is submitted on our system. Residential Property and Commercial business is available for financing through this facility but Mobile Homeowners and Builder’s Risk business is excluded. CG Premium Finance, Inc. charges a $20 administration fee on all notes processed through the facility. Administration of this premium finance business is atypical to traditional lenders to ensure greater efficiency for the agent and more timely funding for the Texas Windstorm Insurance Association, both of which ultimately benefit the policyholder.

The Texas Windstorm Insurance Association endorsement further credentials Wellington Insurance Group as the preeminent provider of specifically-tailored insurance solutions.