DLUHC published has a letter from the Secretary of State for Levelling Up, Housing and Communities to the Financial Conduct Authority and Competition and Markets Authority. The letter responds to the final report from a review into the buildings insurance market for multi-occupancy buildings.
The Secretary of State, Michael Gove, states that he will ban managing agents, landlords and freeholders from taking commissions and other payments when they take out buildings insurance. He says that he will also arm leaseholders with more information to enable them to better scrutinise their insurance costs.
For the letter, click here.