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Building Safety Fund

Question for Ministry of Housing, Communities and Local Government

UIN 12190, tabled on 8 June 2021

To ask the Secretary of State for Housing, Communities and Local Government, whether he plans (a) to bring forward legislative proposals to regulate the conduct of insurers offering Professional Indemnity Insurance to those tasked with the remedial works on unsafe buildings or (b) for the Government to underwrite or indemnify the risk under an extension to the Building Safety Fund.

This answer is the replacement for a previous holding answer.

Answered on

15 June 2021

We do not have plans to regulate the behaviour of insurers undertaking PII as this is activity already regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) in line with their statutory objectives under the Financial Services and Market Act (2000) legislation.

We understand that some construction professionals are struggling to obtain appropriate PII, particularly for fire safety work. This directly relates to the Government's remediation objectives. We have been engaging with industry to investigate these challenges. This includes developing an industry survey with the Construction Leadership Council to provide a robust evidence base of the challenges in construction PII.

We are also monitoring the effect of PII restrictions on applications to the Building Safety Fund and are engaging with suppliers to ensure they have appropriate PII cover. We continue to work across Government and with industry, to investigate solutions that may improve the availability of PII and continue the delivery of remediation at pace.

Named day
Named day questions only occur in the House of Commons. The MP tabling the question specifies the date on which they should receive an answer. MPs may not table more than five named day questions on a single day.