The British Insurance Brokers’ Association (BIBA) has reappointed Premium Credit Limited as the premium finance facility provider for its nearly 2,000 members.
Premium Credit has been the only accredited provider since 2005 and both parties have now agreed to work together for a further five years.
The facility offers BIBA members a means of providing their customers, both personal and commercial, the opportunity to spread the cost of their insurance premiums.
A BIBA spokesman said that for brokers, providing credit to their customers turns a pre-paid expense into “working capital at a time when cash flow is critical” and can help BIBA members to grow their business.
BIBA CEO Steve White (pictured) said that the trade body’s members “really value” the facility.
He said: “Our two organisations share a lot of values and we like members are delighted to be able to continue with the facility.”