The Department for Levelling Up, Housing & Communities (DLUHC) yesterday named Bridge Insurance Brokers Ltd through its FlatGuard brand, as a business that has officially pledged insurance broking best practice, by employing an ethical approach to the insurance placement and management of buildings with identified fire-safety issues.

By signing up to the pledge Bridge’s FlatGuard brand showcases broking best practice for residential insurance services and the Government encourages freeholders and property managing agents should they require the services of a broker, to use one of the signatories to this pledge.

Bridge’s FlatGuard product has been credited by DLUHC for “stepping-up to address the concerns around the value and transparency of commissions and commission sharing”. The aim of the pledge is to maintain best working practices, help reduce costs, and improve disclosure to residential leaseholders on any residential buildings over four storeys with fire-safety issues.

Roger Potts, CEO of Bridge Insurance Brokers Limited, says: “This is the culmination of 2 years of hard work, skill, and dedication by everyone involved to navigate Bridge through FCA and Government discussions into this sector and recognises the ethical approach Bridge has implemented throughout its distribution model right the way through to considering leaseholders and evidencing fair value to become one of the pre-eminent trusted advisers in this space.”

Andre Backner, founder of FlatGuard, says: “I am extremely proud that our continued commitment to improving the outcomes in the blocks of flats insurance sector and our dedication to supporting our clients is being recognised.”

DLUHC, say: “We encourage freeholders and property managing agents (if they require services from a broker), to use one of the signatories to this pledge. We would also encourage leaseholders to press the placer of insurance for their multi-occupancy building as to whether they are using a broker that has subscribed to the pledge.”

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