PHP Insurance are proud to announce we have formally signed the Government backed initiative – from The Department of Levelling up, Housing & Communities – called “The Pledge” – joining a prestigious group of UK insurance brokers to do so.
PHP is a chartered insurance broker, located in Macclesfield in the North-West of England, insuring many residential multi-tenant blocks of flats in the North West and throughout the UK.
The pledge is a small group of prominent insurance brokers, who specialise in buildings insurance for multi-occupancy buildings, that have committed to a high standard in the practice and transparency of fixed commissions and commission sharing when insuring a residential block of flats over 4 stories high, and importantly those with fire safety issues (e.g., cladding).
In simple terms, the pledge delivers best practice, a reduction in costs and improves both transparency and disclosure to leaseholders in residential flats with fire safety issues. Via the signing of this pledge, the Government is encouraging freeholders and property management agents to use insurance brokers like PHP Insurance that have signed up to the safeguarding of tenants and the reduced insurance commissions that will be ultimately passed onto the tenants themselves via lower insurance premiums.
This means that leaseholders that are insured by a broker such as PHP Insurance that have signed up to the pledge can be assured that the indirect insurance premiums that are usually passed on as part of a leaseholder’s service charge bill from the freeholder are fair levels of commission and a leaseholder can request full transparency of the insurance commissions if desired.
Jullian Shawcross
Jullian Shawcross, Director and co-Founder of PHP Insurance, comments:
“I am really pleased and extremely proud that PHP have joined the pledge and it’s significant we are one of the first SME brokers outside of the big 5 that have already signed. This means we can deliver the Government backed pledge to smaller residential occupancies with fire safety risks, whilst still ensuring this is in place for our clients with larger buildings and wider portfolios.
Ultimately, this means that leaseholders and residents in blocks of flats with fire safety issues have peace of mind that their insurance premiums are fair and transparent which gives me the upmost satisfaction.
As one of the fastest growing brokers in the property insurance industry with chartered insurance status, we believe this is the important next step in our journey and I look forward to exciting times ahead”.