Leaseholders’ new entitlement to see details of buildings’ insurance

From FlatLiving 24th June 2024:

Yes, as from 31 December 2023 you are entitled to a lot of information that the freeholder or managing agent should let you have.  Things like sum insured, what’s covered and what’s not covered, excesses, how placed, what shopping around took place, the premium, what the commissions are and what’s been shared, if anything.  You are entitled to this or be shown where to get it from.  The passing of the Leasehold and Freehold Reform Bill will define a “permitted insurance payment” and that will restrict by law what comes out of that bit of the service charge.  My guess would be just the insurance premium which has in-built commission.  Anything else paid to other parties, such as the PMA, will have to be charged directly to all LHs and will not be coming out of the premium.