News

FCA sets out new protections for leaseholders in multi-occupancy leasehold buildings insurance market

By 2023-04-24T06:30:00

High rise building

‘We won’t hesitate to taker further action if brokers don’t comply with our rules,’ says regulator

The FCA has proposed a slew of new rules intended to better protect leaseholders in the multi-occupancy leasehold buildings insurance market.

Released late last week (21 April 2023), the new proposals would define leaseholders in these buildings as customers of the buildings insurance and bar firms from recommending a policy to a property managing agent or freeholder based on commission values.

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