{"id":36142,"date":"2017-02-28T11:20:23","date_gmt":"2017-02-28T00:20:23","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=36142"},"modified":"2017-03-01T06:44:39","modified_gmt":"2017-02-28T19:44:39","slug":"trowbridge-rejects-claims-liawg-report-was-biased","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2017\/02\/28\/trowbridge-rejects-claims-liawg-report-was-biased\/","title":{"rendered":"Trowbridge Rejects Claims LIAWG Report Was Biased"},"content":{"rendered":"

The chair of the Life Insurance and Advice Working Group (LIAWG), John Trowbridge<\/strong>, has rejected claims that he steered the findings of the group towards a particular model, stating his report was independent and did not reflect the views of insurers over advisers.<\/p>\n

\"John<\/a>
John Trowbridge<\/figcaption><\/figure>\n

Trowbridge made the statement in response to a submission to the PJC Inquiry into Life Insurance written by Bombora Advice which claimed he changed the terms of reference for the LIAWG and did not produce an industry agreed response to ASIC Report 413<\/a>.<\/p>\n

In his response, also submitted to the PJC, Trowbridge rejected that he \u201c\u2026with FSC approval and despite AFA protests, changed the terms of reference before the Final Report was published, so it became a report of the Chair, no longer an industry agreed response\u201d, as claimed in the Bombora submission.<\/p>\n

Trowbridge denied that he or the FSC changed the terms of reference and said the LIAWG process was never intended to be \u2018industry agreed response\u2019 to Report 413 but was to be an \u2018industry agreed process\u2019 in supporting a review of life insurance, in which his independence was guaranteed.<\/p>\n

\u201cNeither I nor the FSC changed the terms of reference. Instead, the AFA, being dissatisfied with some of the recommendations in my final draft report, attempted to negotiate changes on the basis that the terms of reference required \u201can industry agreed response,\u201d Trowbridge said.<\/p>\n

\u201cAs noted above, this was not the basis of my review yet one of the AFA representatives on the LIAWG chose to make and publicise this allegation,\u201d he added, pointing to the introduction to his report which stated that both the AFA and FSC had pledged that his role as chair was to act independently.<\/p>\n

Trowbridge also rejected the claim the LIAWG process was confidential and its outcomes reflected the views of the FSC stating that all members of the working group were part of the process, were fully informed and involved in the process and had access to all those submissions made available to the whole working group.<\/p>\n

He said submissions were only made public when individual respondents chose to make them public, and while the FSC had made its submission public there were many others which supported or mirrored the recommendations in the final report but were not released publicly.<\/p>\n","protected":false},"excerpt":{"rendered":"

The chair of the Life Insurance and Advice Working Group (LIAWG), John Trowbridge, has rejected claims that he steered the findings of the group towards a particular model, stating his report was independent and did not reflect the views of insurers over advisers.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[282,8,270],"tags":[],"class_list":["post-36142","post","type-post","status-publish","format-standard","category-associations","category-compliance-regulation","category-remuneration"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/36142","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=36142"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/36142\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=36142"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=36142"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=36142"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}