Question to the Department for Levelling Up, Housing & Communities:
To ask Her Majesty's Government what considerations they have given to replicating the Pool Re insurance model to help resolve the insurance premium increases faced by leaseholders in developments with building and fire safety defects.
The Government is aware that some leaseholders are facing high buildings insurance premiums as a result of fire safety issues. We are continuing to closely monitor the market and are working with the insurance industry to encourage market-led solutions.
With regard to Pool Re, we would not typically recommend drawing parallels with existing Government-backed insurance schemes given the specific design of any intervention is dependent on the size, frequency and nature of the risk being insured.