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Date Time APRA launches review of insurance risk management frameworks The Australian Prudential Regulation Authority (APRA) will require a number of general insurers to review the soundness of their risk management frameworks in light of recent issues with business interruption (BI) insurance. Lockdowns and other restrictions associated with COVID-19 have triggered a spate of potential BI claims, with many insurers exposed through policy wordings that had not kept up-to-date with changing legislation. The resultant legal uncertainty, and significant financial exposure for insurers, has raised concerns about the strength of insurers’ risk management frameworks. In response, APRA has written to a number of insurers asking them to undertake a self-assessment of their risk management frameworks in the context of BI, so as to prevent similar problems occurring in the future. The review will also focus on cyber risk, however APRA expects insurers to ensure their risk ....
APRA probes insurers after pandemic snafu afr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from afr.com Daily Mail and Mail on Sunday newspapers.
Westpac reaps $220m windfall from BT funds afr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from afr.com Daily Mail and Mail on Sunday newspapers.
Check SoAs as well as consent forms, regulators tell trustees professionalplanner.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from professionalplanner.com.au Daily Mail and Mail on Sunday newspapers.
ASIC And APRA Release Notes On Inaugural Superannuation CEO Roundtable mondovisione.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mondovisione.com Daily Mail and Mail on Sunday newspapers.