Select committee: Housing, Communities and Local Government Committee
Recommendation 12
Seventh Report - Building Safety: Remediation and Funding
Published 11 Mar 2022
Paragraph 31
Addressed to Ministry of Housing, Communities and Local Government
Housing, Communities and Local Government Committee Building Safety: Remediation and Funding All items in this report Report on parliament.uk ↗ Inquiry on parliament.uk ↗
Recommendation (the committee's words)
While insurance premiums for leaseholders have gone up, buildings have become safer as a result of remediation works that have been carried out. The risk to insurers has reduced as a result. Insurers should be required to contribute to funds for remediation as they covered the actions of developers who failed to comply with building safety and have since received increased premiums despite remediation works being undertaken. The Government should ask the Financial Conduct Authority to publish an analysis to illustrate on an annual basis since the Grenfell fire how the level of pay-outs by insurers for fire safety claims in medium and high-rise buildings compares with the increase in premiums for buildings insurance for medium and high-rise buildings.
From: Housing, Communities and Local Government Committee, Seventh Report - Building Safety: Remediation and Funding (HC 1063), paragraph 31, 11 March 2022
Government response
The government responded to the whole report on 17 May 2022 (deadline 11 May 2022).