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FCA sets out potential reforms to multi-occupancy buildings insurance market

By 2022-09-23T13:06:00

buildings insurance freeholders leaseholders

Biba has welcomed the findings of the report and said it appreciated the regulator’s engagement with its members while gathering information

The Financial Conduct Authority (FCA) this week (21 September) published a set of potential interventions it could make to reform the multi-occupancy buildings market and ensure leaseholders were better protected.

In its report, the FCA suggested that it could increase the amount and transparency of information available to leaseholders on the pricing of the insurance they are paying for, make it easier for leaseholders to challenge high insurance costs passed on to them and make leaseholders customers of buildings insurance.

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