Question to the Department for Levelling Up, Housing & Communities:

To ask the Secretary of State for Levelling Up, Housing and Communities, what steps the Government is taking to reduce the increase in buildings insurance premiums for leaseholders in residential blocks as a result of building safety concerns.

The Government is aware that some buildings are currently unable to secure adequate, affordable building insurance. On the 28 January, I called on the FCA and the CMA to conduct a review of the buildings insurance market to review buildings insurance premiums for people living in medium and high rise blocks of flats. In his oral statement on the 10 January, the Secretary of State for Levelling Up, Housing and Communities noted Lord Greenhalgh’s intention to work with insurers on new industry-led approaches that bring down the premiums facing leaseholders. Lord Greenhalgh has written to the Association of British Insurers, encouraging them to investigate the possibility of an industry-led risk pool with their members.