FOI reveals scale of FCA investigation into leaseholder insurance

high rise flats

A Freedom of Information request by Insurance Age has revealed that the Financial Conduct Authority has held 59 meetings, 10 workshops, engaged Deloitte as a consultant and had up to 31 employees working on its ongoing investigation into multi-occupancy buildings insurance.

Michael Gove, the then Secretary of State for Levelling Up, Housing and Communities Minister, wrote to the watchdog in January demanding a market review saying he was “extremely concerned” about the pressure leaseholders face from rapidly escalating insurance premiums on blocks of flats following the Grenfell Tower Tragedy.

FCA CEO Nikhil Rathi responded the same day while executive director, consumers and competition, Sheldon Mills issued Dear CEO letters to brokers and insurers.

Mills warned

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.

You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

Register

Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

This address will be used to create your account

Arch goes live on Applied

Applied has confirmed that Arch Insurance has launched a specialist property owners insurance product on its commercial e-trading panel.

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: