349. Why we must resolve the conflicts of interest in our strata insurance arrangements – John Trowbridge
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In the first part of this two-part episode, John Trowbridge explains why he has been engaged as a private consultant to conduct a review of strata insurance practices (and who has engaged him). He walks us through the history of our strata insurance sector, including how brokers came to be involved and why commissions and broker fees are today so firmly entrenched in our system. John explains why a lack of transparency around these fees is not only a problem for owners, but the source of a conflict of interest for strata managers.
Don’t miss part 2 of this important conversation, next week.
Very interesting, thank you. Waiting for the sequel.
Previous insurance experts have suggested that insurers should be advised if a defibrillator is placed on common property as there is a perceived additional risk of a claim should resuscitation fail.
Would Mr Trowbridge please comment on this?