Insurance industry left to shoulder risk in Grenfell fire aftermath – Insurance Times

Fire Safety (England) Regulations 2022
00 days 00 hours 00 minutes 00 seconds

Our latest article from Insurance Times as part of our Buildings Insurance series.

This article focusses on how the Grenfell Tower fire in June 2017 has left the insurance industry to shoulder the increased risk for the failure of building safety and standards.

As a result, leaseholders in high-rise buildings have been slapped with extortionate insurance premiums.

Furthermore, the government has now lumbered leaseholders with the full cost of paying for the safety of these buildings, such as the removal of unsafe cladding, with the publication of the Draft Building Safety Bill (2020).