The Financial Intermediary & Broker Association (FIBA) has has partnered with insurance adviser BQI Protection to launch a referral service for its member firms.
The proposition, available with immediate effect, offers FIBA members an outsourcing option for life protection cover for commercial lending.
Malcolm Robertson, co-owner of BQI Protection, said: “Most companies in the UK don’t have the right financial protection in place should something happen to an owner, partner, or a key person.
“That’s why we are extremely excited to be working with FIBA and its members to offer a referral facility for business protection advice.
“This strategic link provides wider access to options that can help to reduce financial disruption, save livelihoods, and lower the UK’s business protection gap.”
Adam Tyler, executive chairman of FIBA, (pictured) said the firm was delighted to introduce BQI Protection as the latest addition to its list of member benefits.
“I believe this will be a really valued service and have spent time looking for the right partner to assist our broker members in providing the protection for their business customers when borrowing on a commercial basis,” he added.
“On a personal note, I am absolutely delighted that through our sister organisation, SimplyBiz Mortgages, we have been able to secure this relationship.
“Our members now have the opportunity to provide introductions for many types of business protection, including cover for commercial mortgages, specialist property loans and director loan accounts among a number of different commercial credit facilities.”