Additional Staff Trained for the traditional Q-4 Rush from Insurance Carriers
Salt Lake City, Utah, Release: October 5, 2021. For Immediate Release
Equipment Leases Inc., based in Salt Lake City, Utah, announced the roll-out of a unique sale-leaseback financing structure to assist insurance carriers in resolving their non-admitted asset issues before the year-end deadline. In a year of unprecedented disasters, wildfires, flooding, hurricanes, and a pandemic where significant loss of life and property has occurred. As a result, many insurers with significant payouts to insured clients find themselves with a surplus to reserve ratio issue, which could reduce their credit standing or AM Best rating if no action BY THE END OF 2021.
“There has never been a time when large payouts have impacted the insurance industry for their policyholders suffering and loss of life this past year, and it’s not even over,” stated Steven Hansen, the CEO of EQL. As a result, insurance CFO’s and Controllers now have to consider liquidating non-admitted assets like enterprise software or office-related assets such as cubicles and workstations and using the proceeds to improve their cash reserve ratios. Mr. Hansen further mentioned that “We have a better solution than a fire sale of assets at steep losses and have set aside a significant amount of money exclusively for the insurance industry to use in the fourth quarter with limits of up to $50,000,000 per company.
Equipment Leases Inc and its network of lending partners have created a sought-after non-admitted asset solution release for the insurance industry namely property and casualty, health and life, and even auto insurers to turn their non-admitted assets from liability to cash on the balance sheet. We follow the primary SAAP 22 Sale and Leaseback guidelines and provide 100% funding on qualified non-admitted assets no matter how complicated the transaction. Our experience funding tens of millions in non-admitted assets using this arms-length transaction makes us one of the best options among all financial institutions.
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About Equipment Leases Inc.
Equipment Leases Inc. and its network of lending partners have been serving the SMB markets since 2013, providing business owners with the capital needed to acquire millions in new equipment across multiple industries and time zones. With their principal office located in Utah, they also have a sales satellite office strategically placed in more than ten major cities around the country. For additional information about Equipment Leases Inc., visit us online at EquipmentLeases.com