Written question WQ93722
- Asked by
- Jane DoddsLib Dem
- To be answered by
- Cabinet Secretary for Housing, Local Government and Planning
- Tabled
- Due
- Answered
- Time to answer
- 13 days
Question
Will the Cabinet Secretary outline what steps the Welsh Government is taking to facilitate discussions between residents, leaseholders, and insurers regarding recent building-insurance cost increases and transparency issues?
Answer
Answered by Cabinet Secretary for Housing, Local Government and Planning
The regulation of insurance is undertaken at a UK Government level. This power is not devolved to Wales.
The Leasehold and Freehold Reform Act 2024 will seek to prevent unfair charges being levied on leaseholders, introducing greater transparency in the placing of building insurance.
As every building is unique, officials have been engaging with leaseholders and signposting to the Association of British Insurers Fire Safety Reinsurance Facility. This has been launched as a temporary solution until buildings can be remediated and encourages competition across the market so that more firms will provide cover.