350. Why we must resolve the conflicts of interest in our strata insurance arrangements – John Trowbridge (Part 2)
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Continuing our conversation commenced last week, John Trowbridge further explains how he believes strata managers are failing to properly recognise and manage their conflict of interest when it comes to fees and commissions for insurance arrangements, and what an alternate model might look like – for both managers and brokers. John speaks about availability and affordability of strata insurance across the country, explaining what’s driving price increases and how they might be better controlled – including through the actions of owners and strata committee themselves.
Links mentioned:
- Get the transcript here!
- Friday LIVE with Amanda Farmer
- Episode 349. Why we must resolve the conflicts of interest in our strata insurance arrangements – John Trowbridge
- Independent Review of Strata Insurance Practices – Phase 1: Findings and Recommendations
- Independent Review of Strata Insurance Practices – Phase 2: Remuneration of intermediaries: conclusions and recommendations
- John Trowbridge Website
I don’t blame the Insurance companies for the cost of our insurance cover but the Regulator like Fair Trading. I believe that it does not investigate if a Strata Manager is providing value for money.
I have plenty of experiences where the CTTT and then NCAT did not nothing in my case, even if I provided documentation to prove that the Strata Manager was useless.