Under the rules laid down by the Financial Conduct Authority (FCA), insurers and insurance intermediaries responsible for the buildings insurance of leasehold properties are required to provide certain documents to leaseholders. These rules are referred to as “MOBI Regulations” - that is, Multiple Occupancy Buildings Insurance Regulations. The full details of the rules are provided in FCA’s Multi-Occupancy Building Insurance Policy Statement PS23/14 issued on September 29th 2023.

These rules were designed to provide increased transparency to leaseholders, in respect of the terms, provisions and financial arrangements made as part of the contracting of the buildings insurance in place for their leasehold property. The intention was to ensure that insurers and their intermediaries provide sound outcomes for residential leaseholders who ultimately bear the cost of the insurance.

The policy came into force in September 2023. Each year, from that point onwards, we will provide the relevant documents here as soon as possible after our buildings insurance is renewed on our behalf by our managing agents.