Analysis

Is it the end of the line for property insurance commissions on multioccupancy buildings?

By 2023-02-03T14:18:00

property insurance big buildings skyscrapers

The UK government has indicated its intention to ban managing agents and freeholders from taking commissions when arranging buildings insurance

The issue of secret commissions paid to property managing agents and freeholders by property insurance brokers has been bubbling under the surface for a long while – and this particular cauldron now looks set to boil over.

This week (30 January 2022), Michael Gove, secretary of state for levelling up, housing and communities, indicated that he would move to ban the practice and end “unusually high broker commissions”.

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