The British Insurance Brokers’ Association has renewed its agreement with Premium Credit and the firm will continue to provide a premium finance facility to members, building on a relationship that has now been in place for more than 20 years. The facility covers both personal and commercial lines of business.

Graeme Trudgill (pictured), chief executive of BIBA, said: “Premium finance is a vital product which opens access to insurance for many who don’t necessarily have the funds to pay upfront for their annual insurance premiums and want to spread the cost.

“I was pleased to start this facility more than 20 years ago and it’s now one of our longest standing facilities and popular with hundreds of BIBA members.”

Owen Thomas, chief sales officer at Premium Credit, added: “We are delighted to extend our collaboration with BIBA and to give members and their customers ongoing access to our market-leading premium financing option. Brokers’ personal and business customers need payment options that lessen the impact of a single payment on cash flow.”