Says report was “selectively introduced”
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 info 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 business transparency.”
Trowbridge report and clarifications
The brokerage group mentioned the investigation “makes no point out of the truth that Steadfast commissioned revered insurance coverage knowledgeable John Trowbridge to conduct an unbiased overview 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 in need of our requirements and expectations,” mentioned CEO Robert Kelly (pictured above). “Ought to cases be raised that require additional motion, we’ll in fact 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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