Biba has teamed up with credit insurer NCM and brokers PG Finch & Co to offer a credit insurance scheme.

Bad Debt Protection is designed to protect businesses of all sizes from bad debts.

For business clients, the scheme means fixed annual competitive premiums, interest free installments, simple administration and free on-line underwriter access.

Biba members can expect additional benefits, namely the potential for greater earnings from commercial clients, good rates of commission and expert credit insurance advice.

Brokers can enjoy 7% commission at the start of a contract and another annual payment for business renewals.

Mike Williams, chief executive of Biba, said it has worked closely with market experts NCM and PG Finch to develop a credit insurance scheme that offers brokers distinct advantages.

Vincent Gardner, partner at commercial lines broker PG Finch, said enquiries from its commercial clients about credit insurance made it realise how useful a simple scheme facility would be for brokers.

He added: "Biba's reputation for its innovative approach to scheme development created a natural home for such an opportunity."