The British Insurance Brokers’ Association (BIBA) has launched a member petition to be tabled in the House of Commons on the Financial Services Compensation Scheme (FSCS).
The petition calls for the House of Commons to urge HM Treasury to accelerate the FSA’s review of the FSCS consultation with immediate effect.
In his letter to members, BIBA’s Steve White said that they have been working with the All Party Parliamentary Group on Insurance and Financial Services to highlight the unfairness of the FSCS, and the Chairman of the group has agreed to table a petition in the House of Commons on BIBA’s behalf.
BIBA argues that this will add weight to its other lobbying efforts on the FSCS and will send a “strong message”” to Parliament about the urgent need for a review of the FSCS funding model.
