FCA “PROGRESSING” WITH WORK ON MULTI-OCCUPANCY BUILDINGS INSURANCE

Source: Insurance Business UK - May 2022.

"The Financial Conduct Authority (FCA) is making headway in its review of the way the market for multi-occupancy buildings insurance operates, as indicated in the regulator’s update to Secretary of State for Levelling Up, Housing & Communities Michael Gove.

In the FCA’s letter to the MP, the watchdog said its work over the past three months has focussed on gathering data and engaging with insurers and intermediaries to better understand their approach to pricing; considering the drivers of harm which may be impacting leaseholders; and developing initial options for ways the FCA could address any harms identified..."

Read the full Insurance Business UK article here.