Premium Credit is pleased to announce recertification of its Payment Card Industry Data Security Standard (PCI DSS). PCI DSS is an evolving information security standard created by the Payment Card Industry Security Standards Council (PCI SSC) providing a unified approach to how payment card data should be protected during its lifecycle. Through this ongoing accreditation, Premium Credit has formerly been recognised as a company demonstrating that payment card data is handled securely on behalf of its partners and their customers.

Premium Credit has become the ABI’s latest and thirty fifth associate member. Premium Credit is a leading insurance premium finance company serving the UK and Ireland, with over 2.1 million customers, processing 24 million direct debits, with advances of £3.5 billion. They provide payment and credit services for insurance premiums and work closely with several ABI Members, MGAs, and over 3000 brokers.

We are very proud to have successfully launched our first annual index combining bespoke research with our own management information, to provide consumer, SME and Corporate insights. Over the past two weeks we have provided insights from both our SME and consumer findings. We have now made our full Index report available to you here.

Our Collections and Recovery team were finalists in the ‘Outstanding Conduct in Collections’ category at the 2020 Credit Awards, the UK’s largest awards for the credit industry. This year the Credit Awards programme has seen a record number of both individual companies entering and total award entries. Hosted by comedian Justin Moorhouse, the Credit Awards took place remotely, with each winner announced in a digital broadcast format. The awards, known as 'the Oscars of the credit industry' recognise and reward innovation, best practice and the hard work of individuals, business divisions and pan-global conglomerates.

Nearly one in five UK consumers have cancelled or cut back on insurance policies as the financial impact of the COVID-19 pandemic has turned up the pressure on spending on insurance, new research (1) from Premium Credit has found. According to its study, 19% of consumers have cancelled or cut policies directly as a result of the pandemic. While travel insurance is the worst affected, customers have also cut important home and car cover as well as pet, life and health.

More than half of SMEs have cut back on important insurance to reduce costs as the ongoing coronavirus crisis hits their balance sheets, new research (1) from the UK’s leading premium finance company, Premium Credit, shows. Its study found 51% of small and medium-sized firms have stopped paying for a range of business insurance policies with employers’ liability insurance the most cut from a list including business property cover, professional indemnity and cyber.