{"id":85470,"date":"2017-10-18T10:01:05","date_gmt":"2017-10-18T10:01:05","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=e8f887b09173d096a384efde0ca5a0a8"},"modified":"2017-10-18T10:01:05","modified_gmt":"2017-10-18T10:01:05","slug":"news-story-rule-changes-to-promote-competition-in-structural-warranties-market","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=85470","title":{"rendered":"News story: Rule changes to promote competition in structural warranties market"},"content":{"rendered":"<div class=\"govspeak\">\n<p>The revision to existing National House Building Council (<abbr title=\"National House Building Council\">NHBC<\/abbr>) undertakings, which currently cover over 1.6 million homes in the UK, will protect and encourage growing competition in the structural warranties market.<\/p>\n<p>On 29 June 2017, the Competition and Markets Authority (<abbr title=\"Competition and Markets Authority\">CMA<\/abbr>) announced \u2013 as part of its review of legally binding commitments (known as \u2018undertakings\u2019) given by the <abbr title=\"National House Building Council\">NHBC<\/abbr> in 1995 \u2013 that it would consult on whether or not to amend the <abbr title=\"National House Building Council\">NHBC<\/abbr>\u2019s undertakings to bring them up to date with today\u2019s market conditions.<\/p>\n<p>This proposal reflected the <abbr title=\"Competition and Markets Authority\">CMA<\/abbr>\u2019s provisional finding that, although competition in the market has grown and house builders are now purchasing some or all of their structural warranties from a range of suppliers, the <abbr title=\"National House Building Council\">NHBC<\/abbr> has retained a very high market share compared to its competitors.<\/p>\n<p>Having carefully considered responses to its consultation, the <abbr title=\"Competition and Markets Authority\">CMA<\/abbr> has determined in the <a href=\"https:\/\/www.gov.uk\/cma-cases\/nhbc-structural-warranties-undertakings-review#decision-to-supersede-undertakings\">final decision<\/a> on its review to seek new undertakings that are more focused and closely targeted on encouraging effective competition than those given in 1995.<\/p>\n<p>The <abbr title=\"Competition and Markets Authority\">CMA<\/abbr> is now consulting on the new undertakings that have been offered by the <abbr title=\"National House Building Council\">NHBC<\/abbr>. These proposals would oblige the <abbr title=\"National House Building Council\">NHBC<\/abbr> to clearly display on its website that builders who are members of the <abbr title=\"National House Building Council\">NHBC<\/abbr> can source structural warranties from both the <abbr title=\"National House Building Council\">NHBC<\/abbr> and other providers, or from another provider alone. Given regulatory developments, these proposals would also remove any requirement on the <abbr title=\"National House Building Council\">NHBC<\/abbr> to oversee warranties provided by its competitors.<\/p>\n<p>The proposed new undertakings would replace the previous undertakings and remain in force for 15 years. They are set out in Annex 1 of the <abbr title=\"Competition and Markets Authority\">CMA<\/abbr>\u2019s final decision.<\/p>\n<p>Anyone wishing to comment on the proposed undertakings should do so by 1 November by emailing <a href=\"mailto:structural.warranties@cma.gsi.gov.uk\">structural.warranties@cma.gsi.gov.uk<\/a> or writing to:<\/p>\n<div class=\"address\">\n<div class=\"adr org fn\">\n<p>Structural Warranties Review<br \/>\n<br \/>Competition and Markets Authority<br \/>\n<br \/>Victoria House<br \/>\n<br \/>Southampton Row<br \/>\n<br \/>WC1B 4AD<br \/>\n\n<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The CMA plans to change rules relating to structural warranties, a type of insurance that protects against potential defects in new buildings.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"_links":{"self":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/85470"}],"collection":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=85470"}],"version-history":[{"count":0,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/85470\/revisions"}],"wp:attachment":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=85470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=85470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=85470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}