By Harry ScoffinFailure properly to investigate leasehold buildings insurance could hammer the reputation of the Financial Services Authority the regulator warned its staff in 2005, the Leasehold Knowledge Partnership can reveal. Leaseholders call for crackdown on secret insurance commissions Freeholders and managing agents are overcharging leaseholders for the insurance of their flats, while also pocketing large commissions from the insurers. Fury over freeholder and agents’ ‘secret’ insurance commissions Campaigners for leasehold reform are calling on regulators and trade bodies to take action against freeholders and managing agents who overcharge for buildings insurance and hide commissions and other payments. In a press release, they repeat the claim that ARMA and FoPRA had no evidence of bribes and kickbacks in leasehold buildings insurance as reason for the regulator not continuing the investigation. Probe demanded into ‘daylight robbery’ buildings insurance commission Regulators are facing demands to investigate hidden commissions paid to freeholders of flats after homeowners saw their buildings insurance premiums hiked by 400 per cent.

Source: The Times April 26, 2022 18:42 UTC