Daily Insurance Industry News
Daily Insurance Industry News
Friday 26th of April 2019
April 11, 2011

BIBA adds petition to FSCS lobbying efforts

by Gill Montia

Story link: BIBA adds petition to FSCS lobbying efforts

BIBA adds petition to FSCS lobbying efforts

The British Insurance Brokers’ Association (BIBA) has launched a member petition to be tabled in the House of Commons.

It calls for HM Treasury to accelerate the Financial Services Authority’s review of the Financial Services Compensation Scheme consultation, with immediate effect.

BIBA argues that the increase in FSCS levies on insurance brokers during the last three years has been caused by the failure of credit brokers who have mis-sold payment protection insurance.

The Association is therefore demanding that professional insurance brokers are separated out from secondary sellers, as far as the FSCS funding model is concerned.

The petition should add weight to existing lobbying efforts and BIBA members are asked to encourage their constituent MPs to support the Early Day Motion which has been tabled in Parliament on the issue.

Brokers wishing to sign the petition should print hard copies from BIBA’s website and once the signatures are collected in, they will be presented to Jonathan Evans MP, the chair of the all-party parliamentary group on insurance and financial Services.


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