News

17 May, 2023

Independent review of strata insurance practices: Phase 3 release

Insurance industry specialist John Trowbridge has today released his Phase 3 paper “Energising the strata insurance market: a blueprint for affordability, availability and competition”.

21 Jul, 2022

John Trowbridge lifts lid on strata insurance review

Last week, industry expert John Trowbridge (pictured above) released the findings and recommendations from what he calls the “first step” of his review of current strata insurance practices. The review was commissioned by the Steadfast Group.

19 Jul, 2022

Trowbridge releases “first step” of strata insurance market review

Industry expert John Trowbridge has released the first part of his independent review of the Australian strata insurance market. The paper, Phase 1 – Disclosure: Findings and Recommendations, focuses on the disclosure practices of intermediaries.

19 Jul, 2022

Trowbridge strata report recommends improved disclosure

An independent review of strata insurance practices has recommended standard templates and definitions as part of a self-regulatory solution to provide greater transparency around costs and remuneration paid to brokers and strata managers.

31 Mar, 2022

Trowbridge pens independent review of strata insurance practices

Source: Insurance Business
Industry expert John Trowbridge released Wednesday the first part of his three-phase independent review of current strata insurance practices. This review aims to evaluate different elements related to strata insurance, including strata management, insurance broking and insurance underwriting.

31 Mar, 2022

Trowbridge strata review targets ‘opaque’ disclosure

Source: Insurance News
Strata insurance is convoluted and property owners face a lack of transparency around commissions received by their management companies and fees paid to brokers, a consultation paper that’s part of a Steadfast-commissioned independent review says.

30 Mar, 2022

Independent review of strata insurance practices released

Source: NIBA media release
Industry expert John Trowbridge has today released an independent consultation paper to review current strata insurance practices. The independent review, which has been commissioned by the Steadfast Group, will be undertaken in three phases to evaluate the strata insurance-related elements of strata management, insurance broking and insurance underwriting.

20 Sep, 2021

New measures to improve insurance availability and affordability for SME sector

The Insurance Council of Australia (ICA) today announced measures intended to improve the affordability and availability of commercial insurance products for the small and medium-sized business sector, including the creation of a Business Advisory Council to collaborate on solutions to these issues.

The report’s main focus is on how to improve the affordability and availability of commercial insurance products for the small and medium business sector.

The measures are in response to recommendations contained in the final report of the Independent Strategic Review into the role of the private commercial insurance market undertaken by industry expert John Trowbridge.

01 Jul, 2019

Reserve Bank releases independent review of its supervision of CBL Insurance liquidation

The Reserve Bank has today released the review that it commissioned of its supervision of CBL Insurance Limited (CBL). The review relates to the Bank as regulator and supervisor of licensed insurers, and the Bank accepts all findings and recommendations for itself and the insurance regulatory regime.

The Reserve Bank commissioned an independent review by John Trowbridge and Mary Scholtens QC into the circumstances of CBL’s Insurance failures.

26 Mar, 2015

Statement from the FSC on the Trowbridge Report

The Financial Services Council has today welcomed the independent Trowbridge Report which includes recommendations for structural changes to the life and advice industries. Former APRA Member, John Trowbridge, authored the report which is in response to ASIC’s Review of Retail Life Insurance and Advice released in October.

26 Mar, 2015

Trowbridge Review on Retail Life Insurance Advice

The Trowbridge Report released today, proposes a package of recommendations to achieve structural reform for the life insurance and advice industries. It has been produced in response to Australian Securities and Investments Commission’s (ASIC’s) Review of retail life insurance advice, released in October 2014. It is an initiative of the Association of Financial Advisers and the Financial Services Council to conduct an independent review of ASIC’s findings and to make recommendations for industry reform.

26 Mar, 2015

Review of Retail Life Insurance Advice

The Government welcomes the release of the Review of Retail Life Insurance Advice, chaired by John Trowbridge. The independent and important report was commissioned by the Financial Services Council and the Association of Financial Advisers on behalf of the industry. It follows the ASIC Review of Retail Life Insurance Advice of October 2014 which criticised the quality of advice and misaligned financial incentives.

17 Dec, 2014

AFA-FSC statement on Trowbridge interim report

The interim Trowbridge Report released today has identified four key areas that need to be addressed by the life insurance and advice industries in response to ASIC’s Review of Retail Life Insurance and Advice report released on 9 October.

30 Nov, 2011

Fixing flood insurance

Every Australian seeking to purchase or renew home and contents insurance will be offered flood cover using a common sense definition of ‘flood’ under proposals announced today by Assistant Treasurer Bill Shorten and Attorney General Robert McClelland.

02 Jun, 2011

Natural Disaster Insurance Review – Release of Issues paper

The Natural Disaster Insurance Review Panel today released an Issues Paper inviting interested people and organisations to make submissions to the Review.