Our 2026 Insurance Renewal is now complete

We have now completed renewal of our group insurance policies, due on 25th March 2026.

Our brokers have again negotiated with our building insurers, Zurich and Ecclesiastical, to review pricing for each individual building on its own merits.

While not every building will see a reduction in premiums, we are pleased to have again achieved savings for many of our sites. In general, some buildings with the highest premium rates in recent years will see reductions.

There are some exceptions, particularly where fire safety defects remain, or there is an adverse claims experience. A small number of these buildings will face some level of rate increase, for reasons specific to the site.

Premium levels for multi-occupancy buildings generally remain higher than historically. Insurers have re-assessed their views of the risk presented by these buildings, in view of the scale of defects discovered in recent years.

Our brokers have offered some of our buildings to alternative insurers, where they believe prices required challenge. Where better offers were received, further negotiations have taken place with the existing insurers.

We have not undertaken a complete portfolio exercise this year, after last year’s full tender. Our current intention is to tender again next renewal. Insurers are generally reluctant to consider the same risk on an annual basis.

We will therefore renew our programme with the current insurers.

Our insurers are committed to reconsider premiums immediately remediation projects are completed. This has led to us achieve significant premium reductions across sites where fire defects have been dealt with.

Each year, unless buildings have had a recent rebuilding cost assessment, insurers require an inflationary increase to the sum insured. This year the indexation rate has been set at 3.7%, with a proportionate effect on premiums.

For the terrorism policy, we have achieved a further overall premium reduction. This will not apply equally across all buildings, as different geographic risk ratings apply.

Your freeholder receives a share of its broker’s commission in return for the work carried out by its insurance department in support of the programme. That work is carried out through our FCA regulatory status as an Appointed Representative of our brokers. Our commission level is among the lowest in the sector.

We will shortly be sending out invoices and insurance certificates.

Our brokers are required by the FCA to provide leaseholders with specified details about freeholder insurance programmes. This information will be distributed by us at renewal. The information includes premium and commission levels, results of tender exercises and other key subject matter.

We are pleased that many people will receive lower invoices this year. We hope to build on this at subsequent renewals.

Further information on insurance arrangements can be found in the FAQs/Insurance section on this website.