First Insurance Funding (styled FIRST) is one of the largest insurance premium finance companies in North America. It is legitimate: it is a wholly owned subsidiary of Wintrust Financial Corporation, a publicly traded bank holding company on the Nasdaq under the ticker WTFC. In plain terms, the company lends you the money to pay a large insurance premium. You then repay that loan in monthly installments with interest. It works mostly with businesses and their insurance agents, financing commercial property and casualty premiums. It also runs a separate arm that finances life insurance premiums for wealthy individuals. FIRST is a real, regulated lender, but premium financing is a loan, so it costs more than paying a premium upfront. That trade-off is the thing to weigh.
First Insurance Funding: key facts at a glance
| Item | Detail | Source |
|---|---|---|
| What it is | One of North America’s largest insurance premium finance companies | FIRST / Wintrust |
| Founded | 1990, headquartered in Northbrook, Illinois | Company / LinkedIn |
| Who owns it | Wholly owned subsidiary of Wintrust Financial (Nasdaq: WTFC) | Wintrust / company |
| What it finances | Mainly commercial property and casualty premiums; also high-net-worth life insurance premiums | Company / Wintrust |
| Scale | More than $16 billion in annual loan volume | Company / LinkedIn |
| Footprint | All 50 states, Puerto Rico, and Canada (FIRST Canada) | Company |
| How you access it | Usually through your insurance agent or broker | Company / Clutch |
| Is it legit? | Yes, a regulated subsidiary of a roughly $65 billion public company | Wintrust / SEC |
Is First Insurance Funding legit, and who owns it?
Yes, it is legitimate, and the ownership is the reason you can say that with confidence.
First Insurance Funding is a wholly owned subsidiary of Wintrust Financial Corporation. Wintrust is a publicly traded financial holding company that trades on the Nasdaq as WTFC and holds roughly $65 billion in assets. More precisely, FIRST operates as a division of Lake Forest Bank and Trust Company, N.A., one of Wintrust’s chartered banks. So it is not a fly-by-night lender. It sits inside a regulated, SEC-reporting bank, which is about as far from a scam as a company gets.
The company was founded in 1990 by Frank Burke. That was around the same time Ed Wehmer was opening the community banks that merged to form Wintrust in 1996. FIRST has grown from about $400 million in annual loan volume in 1997 to more than $16 billion today, which makes it one of the largest premium finance companies in North America. It is headquartered in Northbrook, Illinois, and lends across all 50 states, Puerto Rico, and Canada.
One quick point of confusion worth clearing up: First Insurance Funding is not the same company as First Acceptance Insurance, the high-risk auto insurer. They share a “First” in the name and nothing else. If you were researching that carrier, see our separate Acceptance agency insurance and notary review.
What First Insurance Funding actually does
At its core, First Insurance Funding does one thing: it lends money so that policyholders can pay their insurance premiums over time instead of all at once.
Most of its business is commercial property and casualty premium financing. Picture a business with a $60,000 annual commercial policy. Paying that in one lump sum ties up cash the business might need for payroll or inventory. Instead, the agent arranges financing through FIRST, the policyholder puts down a portion, and FIRST pays the insurer the full premium. The policyholder then repays FIRST in monthly installments with interest. The insurer gets paid in full up front, the business keeps its cash flowing, and FIRST earns interest on the loan.
Because it is a business-to-business operation, you usually do not walk up to First Insurance Funding directly. You reach it through your insurance agent or broker, who quotes the financing terms as part of setting up your policy. FIRST provides the agent tools, the online account platform (branded FIRST Insite), and the billing.
Alongside the core product, FIRST and its Wintrust siblings offer related services: FIRST Canada for Canadian agencies, plus banking, treasury, and lending programs aimed at insurance agencies themselves. There is also a life insurance financing arm, which is a genuinely different product covered further down.
How insurance premium financing works
Premium financing is a short-term installment loan tied to one purpose: paying an insurance premium. The mechanics are consistent across the industry.
You (or your agent on your behalf) agree to a finance contract. You make a down payment, then repay the rest in monthly installments over the policy term, usually a matter of months rather than years. The finance company pays your insurer the full annual premium immediately. You repay the finance company with interest.
One detail matters more than any other, and the old draft of this page skipped it. The finance agreement includes a power of attorney. If you stop paying, the finance company has the contractual right to cancel your insurance policy. It then collects the unearned premium back from the insurer to settle your loan. That is the real risk of premium financing. A missed payment does not just hurt your credit. It can leave you uninsured. So premium financing is a cash-flow tool, not free money, and the discipline to make the installments is part of the deal.
What it costs, and the honest trade-offs
Here is the part promotional pages leave out. Financing a premium always costs more than paying it upfront, because you are paying interest on a loan.
Premium finance rates are not a single published number. For commercial property and casualty financing, the interest rate is regulated at the state level, and most states cap what a premium finance company can charge. Your actual rate depends on your state, the size and term of the loan, and the finance company’s terms. The only reliable figure is the one on your finance quote, so ask your agent to show you the total finance charge in dollars, not just the monthly payment.
A note on outdated numbers you may see elsewhere: some older guides describe premium finance rates as tied to LIBOR. That benchmark was retired for U.S. dollar rates in 2023 and replaced by SOFR. Any current rate reference that still cites LIBOR is out of date, which is a useful tell that a page has not been updated.
The trade-off, then, is simple to state. You accept an interest cost in exchange for keeping your cash available and spreading a large bill into manageable pieces. For a business managing cash flow across many policies, that can be worth it. For a small premium you could comfortably pay at once, it usually is not.
Commercial premium finance vs. life insurance premium financing
This is where a lot of writing about First Insurance Funding goes wrong, including the page this one replaced. There are two very different products, and mixing them up is misleading.
Commercial property and casualty premium financing is the core business described above. It serves businesses and agencies, spreads ordinary commercial premiums into monthly payments, and is what most people mean when they search for First Insurance Funding.
Life insurance premium financing is a separate, specialized strategy run through Wintrust Life, a related Wintrust division. Here, high-net-worth individuals borrow to pay premiums on large life insurance policies so they can keep their own money invested elsewhere. It typically involves substantial net worth requirements, collateral, and rates now benchmarked to SOFR. This is a sophisticated estate-planning tool, not a routine payment plan, and it carries its own risks around interest rates and collateral calls.
If you are a business owner financing a commercial policy, the first product is yours. The details about wealthy individuals, collateral, and net worth thresholds belong to the second and do not apply to you.
First Insurance Funding login, payments, and contact
A lot of searches for this company are really about account access, so here is the practical routing.
You manage a FIRST account through its online platform, FIRST Insite, where you can view your loan, see billing, and set up payments. FIRST generally supports online payments, automatic payments, phone, and mail, and offers one-time payment options for a single installment. Canadian accounts are handled through FIRST Canada.
For the correct login link, phone number, or mailing address for your specific account, use the details printed on your own finance agreement or billing statement rather than a third-party page, since routing can differ by account and region. When in doubt, your insurance agent can point you to the right portal, because they set up the financing in the first place.
Should you finance your premium? A quick decision check
A promotional page will tell you financing is always smart. It is not. Here is the actual decision, which turns on answers only you have.
- Can you comfortably pay the premium in full right now without straining cash flow? If yes, paying upfront avoids interest and is usually cheaper.
- Does your insurer already offer low-cost or no-cost monthly direct billing? Many do. If the insurer’s own installment plan is cheaper than financing, use it.
- Is the premium large enough that spreading it protects cash you need for the business? If yes, financing can earn its interest cost by keeping capital free.
- Are you confident you can make every installment? If cash flow is shaky, remember a missed payment can cancel the policy. That downside is bigger than the convenience.
If you pay upfront easily, or your carrier bills monthly for less, financing is hard to justify. If you run a business juggling several large annual premiums, it is a legitimate cash-flow tool, and FIRST is one of the biggest and most established providers of it.
The Honest Read
Who First Insurance Funding is for: businesses and insurance agencies managing large or multiple commercial premiums, where spreading the cost keeps working capital available. Its scale, its all-50-states-plus-Canada footprint, and the stability of sitting inside a $65 billion public bank are real advantages, and its agent tools are built for exactly this workflow.
Who it is not for: anyone with a small premium they could pay at once, or a policyholder whose insurer already offers cheap monthly billing. In those cases, financing just adds interest for convenience you can get more cheaply elsewhere. And if you are an individual searching because you got a bill from FIRST, the thing to understand is that your agent arranged this loan as part of your policy. It is legitimate, but it is a loan, and you should know the total finance charge before you sign.
First Insurance Funding is not a scam and not a miracle. It is a large, regulated, well-backed premium finance lender doing a straightforward job. Whether that job is worth the interest is the only real question, and the answer depends on your cash flow, not on how good the marketing sounds.
Conclusion
First Insurance Funding is a legitimate, long-established premium finance company owned by Wintrust Financial, financing insurance premiums for businesses across the U.S., Puerto Rico, and Canada. It solves a real problem, which is the strain of paying a large premium all at once, by turning it into monthly installments. The catch is the interest cost and the fact that missing payments can cancel your coverage. Treat it as the cash-flow tool it is, compare it against paying upfront or using your insurer’s own installment plan, and confirm the total finance charge before committing.
FAQs
Is First Insurance Funding legit?
Yes. First Insurance Funding is a wholly owned subsidiary of Wintrust Financial Corporation, a publicly traded bank holding company on the Nasdaq (WTFC) with roughly $65 billion in assets. It is a regulated lender inside a major bank, not a scam. It has operated since 1990.
Who owns First Insurance Funding?
Wintrust Financial Corporation owns it. FIRST operates as a division of Lake Forest Bank and Trust Company, N.A., one of Wintrust’s chartered banks. Wintrust is publicly traded on the Nasdaq under the ticker WTFC.
What is First Insurance Funding, and what does it do?
It is an insurance premium finance company. It lends policyholders the money to pay their insurance premiums, then collects repayment in monthly installments with interest. Most of its business is financing commercial property and casualty premiums for businesses through their insurance agents.
Is First Insurance Funding a Wintrust company?
Yes. First Insurance Funding has been part of Wintrust for decades and operates as a Wintrust subsidiary. The Wintrust connection is what gives FIRST its financial backing and its ability to offer banking and treasury services alongside premium financing.
How long has First Insurance Funding been in business?
Since 1990. The company was founded by Frank Burke and grew from about $400 million in annual loan volume in 1997 to more than $16 billion today, making it one of the largest premium finance companies in North America.
What is insurance premium financing?
It is a short-term loan used to pay an insurance premium over time instead of in one lump sum. The finance company pays the insurer the full premium, and you repay the finance company in monthly installments with interest. It is common for large commercial policies.
How does First Insurance Funding work?
Your insurance agent arranges financing through FIRST when setting up your policy. You make a down payment, FIRST pays your insurer the full premium, and you repay FIRST monthly with interest. You manage the account through the FIRST Insite online platform.
How do I log in or pay my First Insurance Funding bill?
You access your account and make payments through FIRST Insite, the company’s online platform, which supports online, automatic, phone, and mail payments, plus one-time payments. Use the login link and account number on your own statement, or ask the agent who set up the financing.
Does First Insurance Funding offer a one-time payment option?
Yes. You can make a single installment or one-time payment through its online payment system rather than enrolling in automatic payments. Check your statement or the FIRST Insite portal for the exact steps tied to your account.
Is First Insurance Funding available in Canada?
Yes. FIRST Canada provides property and casualty premium financing and payment solutions for Canadian agencies and their clients. Loans are available across the U.S., Puerto Rico, and Canada.
What happens if I miss a First Insurance Funding payment?
Premium finance agreements include a power of attorney, so a finance company can cancel the insurance policy for non-payment and recover the unearned premium to settle the loan. That means a missed payment can leave you uninsured, so contact the company immediately if you cannot pay.
How much does First Insurance Funding cost?
There is no single rate. Commercial premium finance rates are regulated at the state level and vary by state, loan size, and term. Financing always costs more than paying a premium upfront because you pay interest, so ask your agent for the total finance charge in dollars before you agree.
Is First Insurance Funding the same as First Acceptance Insurance?
No. First Insurance Funding is a premium finance lender owned by Wintrust. First Acceptance Insurance is a separate high-risk auto insurance brand. They are unrelated companies that happen to share the word “First” in their names.
Can I pay off First Insurance Funding early?
Usually yes. Most premium finance contracts allow early payoff, which can reduce your total interest, though specific terms vary by agreement. Check your contract or ask FIRST directly for the payoff amount and any conditions.
How do I apply for premium financing through First Insurance Funding?
You typically apply through your insurance agent or broker, who quotes the financing as part of setting up your policy. Businesses with large or multiple commercial premiums are the most common users. Ask your agent to compare the financing cost against paying upfront or using the insurer’s own installment plan.
About this review
This profile was produced by the InsuranceGuidances Editorial Team.
Methodology: We reviewed First Insurance Funding using the company’s own disclosures and history, Wintrust Financial’s public filings and corporate information (Nasdaq: WTFC), industry descriptions of premium finance mechanics and state regulation, and independent business profiles. We explain both the benefits and the costs and risks of premium financing rather than promoting the product. We do not accept payment in exchange for coverage or placement. Company ownership, rates, and terms change; see the review dates above and verify current details before acting.
Reviewed: 2026 ·
Sources
Alternative Reference Rates Committee, LIBOR transition to SOFR: https://www.newyorkfed.org/arrc
FIRST Insurance Funding, Our Story: https://www.firstinsurancefunding.com/our-story.html
FIRST Insurance Funding, Home: https://www.firstinsurancefunding.com/
FIRST Insurance Funding, LinkedIn company profile: https://www.linkedin.com/company/first-insurance-funding
Wintrust, Insurance Banking and Premium Finance: https://www.wintrust.com/business-solutions/business/lending/insurance-banking-and-premium-finance.html
Wintrust Financial Corporation, investor and corporate information (Nasdaq: WTFC): https://www.wintrust.com/
Wintrust Financial, Wikipedia overview: https://en.wikipedia.org/wiki/Wintrust_Financial
U.S. Securities and Exchange Commission, Wintrust Financial filings (EDGAR): https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=WTFC
FIRST Insurance Funding company overview (LeadIQ): https://leadiq.com/c/first-insurance-funding/5a1d9837230000530086deca
First Insurance Funding client review (Clutch): https://clutch.co/profile/first-insurance-funding
Consumer Financial Protection Bureau, understanding loan finance charges: https://www.consumerfinance.gov/
