A life insurance and advice working group set up by the Financial Services Council (FSC) and the Association of Financial Advisers (AFA) has appointed John Trowbridge as independent chairman.

The group will consider issues around quality of advice, product design and remuneration structures – all raised in the Australian Securities and Investments Commission’s recent report on the industry.

Joining Mr Trowbridge on the panel are FSC CEO John Brogden, MLC CEO Andrew Hagger, Suncorp Life CEO Geoff Summerhayes, AFA CEO Brad Fox, Centrepoint Alliance CEO John de Zwart and AFA NSW Director Jeff Thurecht.

Mr Trowbridge says the regulator’s report raises some “complex and difficult issues for the life insurance and advice industries to solve”.

“I applaud the AFA and the FSC in taking the initiative to set up the group, which will make a concerted effort to find durable solutions in consultation with all stakeholders.”

The group will publish an initial report in December, with a final report due in February.