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Other Financial Data

9 Months Ended

Sep. 30, 2021

Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

5. Other Financial Data

Other Current Assets

Major classes of other current assets consist of the following (in millions):

	September 30, 2021		December 31, 2020
Premium finance advances and loans	$	511.8	$	442.7
Accrued supplemental, direct bill and other receivables		546.2		361.7
Refined coal production related receivables		108.5		95.4
Deferred contract costs		76.3		102.0
Prepaid expenses		126.7		112.1
Total other current assets	$	1,369.5	$	1,113.9

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.