Says report was “selectively offered”
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 upset that necessary data has been selectively offered,” mentioned an ASX announcement launched by the large brokerage.
The ABC-TV investigation questioned the transparency of Steadfast’s operations and its affect available in the market. Within the announcement, Steadfast agreed the protection “raises considerations 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 professional John Trowbridge to conduct an unbiased evaluate 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 are going to 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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