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Other Current Assets
 12 Months Ended
Dec. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Other Current Assets
Major classes of other current assets consist of the following (in millions):
 
December 31,
 
  
2019
 
  
2018
 
Premium finance advances and loans
  $
388.1
    $
316.2
 
Accrued supplemental, direct bill and other receivables
   
369.1
     
348.2
 
Refined coal production related receivables
   
103.4
     
160.2
 
Deferred contract costs
   
98.3
     
91.6
 
Prepaid expenses
   
115.5
     
108.2
 
                 
Total other current assets
  $
1,074.4
     $
1,024.4
 
                 
The premium finance advances and loans represent short-term loans which we make to many of our brokerage related clients and other
non-brokerage
clients to finance their premiums paid to underwriting enterprises. These premium finance advances and loans are primarily generated by three Australian and New Zealand premium finance subsidiaries. Financing receivables are carried at amortized cost. Given that these receivables carry a fairly rapid delinquency period of only seven days post payment date, and that contractually the majority of the underlying insurance policies will be cancelled within one month of the payment due date in normal course, there historically has been a minimal risk of not receiving payment, and therefore we do not maintain any significant allowance for losses against this balance.