Australia's Federal Court found that thousands of Cbus members faced lengthy delays in receiving death and disability benefits, with some claims remaining unresolved for over a year.
Confirmation of the independent investigation, which commenced last month, comes amid Neal’s withdrawal from AIG President role he was due to commence in December.
APRA’s new System Risk Outlook also highlights the growing impact of geopolitical threats, cyber, and system interconnectedness on Australia’s financial system.
The expanded programme allows policyholders to use credits for a wider range of loss-prevention projects identified through FM’s engineering assessments.
The draft regulations, open for a 60-day public consultation, outline new governance and contract management requirements for insurers' outsourced operations.
