The Financial Intermediary and Broker Association (FIBA) has partnered with BQI Protection to launch a referral service for its member firms.
The proposition, which is available with immediate effect, offers FIBA members an outsourcing option for life protection cover for commercial lending.
Adam Tyler (pictured), executive chairman of FIBA, said: “FIBA has experienced a very busy and positive start to 2021, kickstarted with our Annual Conference for the specialist property finance industry, as well as once again, seeing real growth in membership and lender numbers in the first quarter of the year.
“As part of our commitment to provide the best support available to our members through selected panels of lender and professional partners, we are delighted to introduce BQI Protection as the latest addition to an already prestigious 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.
“I am really looking forward to seeing our partners, our members, and most of all their customers getting real benefit from the introduction of this new initiative with FIBA.
“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 amongst a number of different commercial credit facilities.”
Malcolm Robertson, co-owner of BQI Protection, added: “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.”