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The most irritating factor in all of this mess was the solution to any previously poor business practices could have well and truly have been handled easily.
Retain the previous levels of Upfront, Hybrid or Level commission options, restrict any replacement of business placed in the previous 2-3 years to Level commission only option to remove any incentive to possible churn and have all insurers to sign a memorandum of understanding to agree to report all incidences of repetitive replacement of business to a singular body, thereby restricting offending advisers to a Level commission only model for all business or removal from the industry entirely.
This model would have preserved the profitability of quality adviser's businesses, delivered high quality risk business to the insurers and removed the incentive for other advisers to replace business on a regular basis.
This would have worked if all had been on the same page.
However, because of misaligned agenda's, ideology and manipulated and conflicted positions, it has destroyed the possibility of this occurring and reduced adviser's trust and self esteem to such a base level , the damage is severe.
It could have been easily managed and we could have at least still had a thriving risk business with high quality advisers delivering large volumes of quality business with good claims outcomes for clients.
If you consider the negative impact across the board for all concerned, including the consumer, it has achieved absolutely nothing at all.
And remember, all Kelly O'Dwyer could say was it would "enhance consumer outcomes ".
Well Kelly, I don't it enhances consumer outcomes if there is a massive exodus of specialist risk advisers, if premiums are through the roof and if many of the experienced and caring advisers are no longer around to assist their clients at claim time.
Unintended consequence??.........no....just a very very poorly executed hatchet job for all the wrong reasons.