Call for insurers to take ‘informed approach’ as leaseholders face rise in premiums of up to 1,200%
Fire chiefs have intervened in the financial crisis affecting hundreds of thousands of high-rise leaseholders by urging insurers to think twice before they raise premiums on towers with fire safety problems.
With some leaseholders facing increases of up to 1,200% in building insurance and others unable to get any cover, the National Fire Chiefs Council has met the Association of British Insurers to argue for a “more informed approach”. It is concerned insurers have been increasing premiums sharply regardless of the degree of danger uncovered in the wake of the Grenfell Tower fire. MORE