Insurance Broker Pledge for leaseholders in buildings over 11m or 4 storeys in height in buildings affected by fire safety issues
Pledge agreed individually with 12 insurance brokers and government to limit commissions, stop sharing commission with certain parties and agree to implement FCA regulations on transparency from 31 December 23.
Documents
Details
The government has agreed with 12 insurance brokers to change their insurance broking practices to help leaseholders in buildings over 11 metres and/or over 4 storeys in height affected by fire safety issues. The insurance brokers have agreed to 3 points which will help reduce cost of buildings insurance which is passed onto leaseholders through the service charge.
A plain English explanation of the pledge is also available on this page. It explains Insurance Broker pledge background information along with an explanation of each pledge point and the effect each point should have for affected leaseholders.
Last updated 8 February 2024 + show all updates
-
Two more insurance brokers have signed the Insurance Broker Pledge for leaseholders.
-
Seven more insurance brokers have signed the Insurance Broker Pledge for leaseholders.
-
First published.