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<p>Insurers make decisions about the terms on which they will offer cover following
an assessment of the relevant risks. This is usually informed by the insurer’s claims
experience and other industry-wide statistics. The capabilities of insurers to assess
risk is a key element on which they compete. This competition is important and should
lead to better products and lower prices for consumers.</p><p> </p><p>However, the
Government is aware of the concerns of those people in affected buildings. The Government
has taken a number of steps that will have an impact on insurers’ risk assessments.</p><p>
</p><p>Firstly, the Government announced that it would take steps to reform the building
safety system, and will review the progress of removing unsafe ACM cladding from affected
buildings. In addition, the Government has implemented measures such as providing
£1 billion in 2020-21 to support the remediation of unsafe non-ACM cladding materials
on high-rise buildings.</p><p>More specifically on insurance, the Government announced
that it will commission a review with the insurance industry to consider how Professional
Indemnity Insurance can be provided to fire engineers and other construction professionals
to ensure they have the confidence to advise on the fire risks associated with ACM
cladding.</p>
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