Says report was “selectively introduced”
Insurance coverage Information
By
Daniel Wooden
Steadfast Group has launched a response to an Australian information program that has alleged its brokers mislead strata insurance coverage clients. “We refute the allegations made and are disenchanted that essential data has been selectively introduced,” mentioned an ASX announcement launched by the enormous brokerage.
The ABC-TV investigation questioned the transparency of Steadfast’s operations and its affect out there. Within the announcement, Steadfast agreed the protection “raises issues round strata trade transparency.”
Trowbridge report and clarifications
The brokerage group mentioned the investigation “makes no point out of the truth that Steadfast commissioned revered insurance coverage skilled John Trowbridge to conduct an unbiased evaluation in late 2021.”
The discharge mentioned all of the agency’s companies, together with brokerages and underwriting businesses, “function independently and actively compete with one another.”
“Steadfast is of course involved about any case which will fall wanting our requirements and expectations,” mentioned CEO Robert Kelly (pictured above). “Ought to situations be raised that require additional motion, we’ll after all examine and act to rectify any shortfalls in our processes and procedures.”
Steadfast has introduced a buying and selling halt on its securities following the ABC report.
The Group is Australasia’s largest broking community with rising operations throughout the US and Asia.
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