Government summons ABI to meeting on FCA tower block insurance report
The Secretary of State for Levelling up, Housing & Communities has written to Hannah Gurga, director general of the Association of British Insurers, telling the industry to accelerate its work on multiple occupancy buildings insurance and solve the problems urgently.
Simon Clarke has summoned the trade body to a meeting before the end of the month.
The Financial Conduct Authority issued its report on the market yesterday (21 September) listing issues including a lack of transparency, excessive commission, the need for leaseholders to be customers and poor data.
Clarke told Gurga the same day: “It is very concerning to see that the premiums paid by leaseholders have more than doubled on average over a five-year period, and nearly tripled for those living
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