The petition, which has been sent to all BIBA members, 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 signalled 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. BIBA has also called for members to encourage their constituent MPs to support the Early Day Motion which has been tabled in Parliament on this issue.
Brokers wishing to sign the petition should print hard copies from its website, encourage as many members of staff as possible to sign it, and return it to its office. Once signatures are collected, BIBA will present the petition to the chair of the All Party Parliamentary Group on Insurance and Financial Services, Jonathan Evans MP.
