FCA Floats Broker Commission Limit In Post-Grenfell Rises

By Martin Croucher (May 11, 2022, 3:40 PM BST) -- The U.K. finance watchdog is considering whether to use its powers to limit brokers' commissions amid concerns about surging insurance prices for leaseholders in high-rise buildings after a fire in a London tower block in which 72 people died.

The Financial Conduct Authority floated the possibility in a letter to Housing Secretary Michael Gove on Tuesday after insurers had raised premiums significantly since the 2017 Grenfell Tower disaster, when fire tore through the 24-story block of flats in west London. 

Gove asked the FCA in January to investigate why insurance costs continue to rise "dramatically" despite progress in making high-rise residential...

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