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Insurance Business | 03 Dec 2014, 09:09 AM Agree 0
Panic in the broking community over what has been called a “crisis of market share” could be putting the professional credibility of the industry at risk according to one industry expert.
  • The (Northern) Oracle | 03 Dec 2014, 10:26 AM Agree 0
    The JLT chairman's comments do not seem to be consistent with JLT practice in the market. Many brokers will attest to the fact that JLT uses massively discounted brokerage (at times as much as 100%) as a lever to win accounts. Perhaps he is signalling a change?
  • Grant Richmond | 03 Dec 2014, 10:55 AM Agree 0
    There are some well considered views on all points in this article.

    The proposed UFI entrants to the market should be required to meet a separate regulatory framework established by APRA. An agreed mandatory protocol and suite of compliance documents should be developed so that a consistent standard of advice is provided to clients by all Brokers.

    More red tape? Maybe. But certainly worthwhile to protect our clients, our PI exposure and to avoid potential reputational damage to the industry.

    Whilst my business is not based in North Queensland and is unlikely to feel any effect, the potential ramifications on our industry and it's clients are of concern.
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