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

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Arch goes live on Applied

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