Vanuatu Risk and Premium Funding Ltd (VRPF)

Your cashflow solution

We specialise in providing funding for all types of Insurance and Risk Management services for Vanuatu. We offer a user friendly, easy and convenient solution to free up your cash flow. With flexible monthly installments from your nominated bank account and competitive pricing, we provide a unique service in Vanuatu.

What is premium funding?

Premium funding is a short-term, fixed interest loan facility that allows clients to pay their annual insurance premiums by monthly installments over a period of nine months. Our premium funding product is tailored to deliver a simple, flexible, and secure Cash Flow Management tool available for all business industries at a very competitive rate.

Why do you need premium funding?

The Vanuatu Insurance Act says:

74A Failure to pay premium under general insurance policy

  1. if a premium under a general insurance policy, other than a reinsurance policy or a captive policy, has not been paid on it’s due date, the cover under the policy lapses:

    (a) if the premium is payable on an annual basis or the policy period is longer than 12 months – 30 days after the inception or as the case may be, the renewal, of the policy; and

    (b) if the premium is payable by installments at intervals of less than 12 months – 15 days after the installment due date.

  2. If a cover under an insurance policy lapses under subsection (1), the insurer may reinstate the policy upon payment of all premium due.

Benefits to you include:

  • Manage your business’s cash flow with premiums paid in installments over a period of nine months
  • Multiple insurance policies can be attached to one premium funding facility
  • Retain capital in your business
  • Interest rates are fixed so you are protected from interest rate fluctuations
  • Payments can be debited automatically from your nominated bank account

Contact Us

1st Floor, Raffea House, Lini Highway, Port Vila

+678 23863