Multi-occupancy Residential Buildings Insurance - New FCA rules and implications for MGAs.

Delivered by Insurance Compliance Services (ICS) this Market Briefing will focus on the FCA’s new rules that come into force from 31st December 2023 to treat leaseholders in multi-occupancy buildings (and other policy stakeholders in similar positions) as customers, which for MGAs will include being transparent on property owners’ policy remuneration. It will also result in increased scrutiny on the paying of commissions to brokers and subsequently to third parties such as freeholders and property managing agents