Well, it's not really new. The whole business/premium account idea has been around LinkedIn for while. Previously, it meant that you could pay a monthly subscription fee to get access to a wider net of profiles and get to see who actually peeked at your profile. Unless you were a recruiter, it really didn't make much sense.
But LI finally figured out a way to make a few more bucks off of the feature.
Now, instead of tying up your personal profile to create a business ad on your business page, you can now set use the business account to set up a business ad. Now, you no longer have to use your own personal stuff to get things done. Looks like they took a feature from the Facebook Pages playbook.
Some nice touches are that you can set yourself as an administrator then assign rights to other folks to be a standard user, a viewer, admin, billing contact or campaign contact. Nice. You can set up multiple business accounts that don't get indexed. Super nice.
But you better make sure and set up your Company page correctly because it all hinges from there.
The only down side? A $5 activation fee. So unless you have an ad and are ready to rock'n'roll, don't bother. You just lost your lunch money. Okay, well half of it.