The British Insurance Brokers' Association (BIBA) has launched a member petition to be tabled in the House of Commons on the way the FSCS is funded.
It calls for the House of Commons to urge HM Treasury to accelerate the FSA's review of the FSCS. The FSA was due to publish a consultation paper on reforming the FSCS funding model in November, but said it was delaying the review to wait for the new regulatory structure to be finalised. It says it will now consult on reforms in Q3 or Q4 this year. In his letter to members, BIBA's Steve White said the organisation has been working with the All Party Parliamentary Group on Insurance and Financial Services to highlight the unfairness of the way the FSCS is funded. The chairman of ...
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