Michael Gove calls on FCA to review rising premiums for residential buildings
In a letter to the FCA and the CMA, the Secretary of State for Levelling Up, Housing and Communities writes he is "extremely concerned" about the pressure leaseholders face from rapidly escalating insurance premiums on blocks of flats following the Grenfell horror.
Michael Gove, Secretary of State for Levelling Up, Housing and Communities, has called on the Financial Conduct Authority to review the buildings insurance market for multiple-occupancy residential buildings in consultation with the Competition and Markets Authority.
Gove outlined that he had been “extremely concerned” to hear from leaseholders about the pressure they face from rapidly escalating insurance premiums on high and medium-rise blocks of flats.
Failure
He continued: “I have been
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