BIBA’s Premium Finance Guide is good on intentions and low on advice

By: Michael Philips – lead tifco consultant 6 November 2025 michael@tifco.co.uk

The recent Premium Finance guide from @BIBA https://lnkd.in/eUct7xTP is admirable in its intentions but falls short in providing the advice brokers need.

The guide covers many of the main current topics of debate in premium finance but its own introduction says “this guidance offers members some useful pointers in helping you develop your own approach to managing potential conflicts in your role as a credit broker, but it does not seek to represent itself as providing the only thoughts that brokers may wish to have on the subject (and is no substitute for seeking professional advice).

On page 5 in the context of early and prominent disclosures it says ” Your finance provider may require you to disclose each of these elements [the net rate from the lender, the charge our rate and the monetary sum you will earn from arranging the finance] to avoid any potential risk to you from non-disclosure“, but the difference of supplier approaches could not be more opposite.

In the disclose and consent corner:

⭕ Investec, Close Brothers, PremFina, Render, Orchard and Keys Finance.

In the “no change business as usual” corner:
⭕ Premium Credit Ltd who clearly see it as the broker’s liability to comply.

Broker’s will have their own operating models, risk appetites and customer cohorts, so it’s not as simple as saying one-size fits all and BIBA’s guidance is rightly to SEEK PROFESSIONAL INDEPENDENT ADVICE.

tifco experts can provide you with best-in-class risk-based advice alongside clear development plans to maximise income. For long term sustainable premium finance growth contact us at info@tifco.co.uk

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