Biba issues series of commitments after FCA flat insurance report
The British Insurance Brokers’ Association has set out a series of commitments to the Financial Conduct Authority and the government to help achieve better outcomes for leaseholders, especially those living in high rise residential buildings that require remediation work, Insurance Age can reveal.
The commitments have been sent in a letter to the Department for Levelling Up, Housing and Communities, now led again by Michael Gove.
The then Secretary of State at DLUHC, Simon Clarke, wrote to Biba CEO Steve White in September.
Clarke had demanded immediate changes to unfair commissions and a plan to reform market culture and practice after the regulator’s report into multi-occupancy buildings insurance.
Clarke had taken aim at “disturbing evidence on remuneration practices” citing
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