ABI commits to working “at pace” on pool sharing risk solution after FCA flats insurance report
The Association of British Insurers has responded to the Financial Conduct Authority’s report on insurance for multi-occupancy buildings in which the regulator called for a cross industry pool.
According to the FCA the pool would limit the risk to individual insurers posed by certain buildings affected by flammable cladding or other material fire safety risks and would be aimed at reducing the price of insurance for these buildings.
It urged the ABI to work with it, and government, to provide a plan for the solution and its implementation within two months.
James Dalton, ABI director of general insurance policy, said: “We support the FCA’s recommendations on a risk sharing scheme and
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