Regulatory Change

Compliance expert Paul Muir explains why the prudential regulator’s game-changing operational resilience standard leaves agencies walking a fine line between their own needs and those of insurers. The new prudential standard CPS 230 introduces strict requirements for insurers to strengthen … [Read more...] about Navigating CPS 230: the new reality for underwriting agencies

On 1 July 2025, financial services enter a new age with the commencement of CPS 230:Operational Risk Management. The requirements of this prudential standard reflect a paradigm shift in how operational risk and related issues are to be managed. The core requirement of resilience reflects the need to … [Read more...] about APRA CPS230: Operational Risk Management

Why do a survey? All 300+ APRA regulated financial institutions are working on the challenges of CPS230 Long gestation period Its not over on 1 July 2025 Insurers, banks, super funds all working hard and face similar challenges … [Read more...] about CPS230 Operational Risk Management Industry Survey 2025

To meet the notification requirements of Prudential Standard CPS 230 Operational Risk Management APRA has developed and released electronic forms that should be completed by entities when notifying APRA of the following: Operational Risk Incident (para 33) Breach of Critical Operation … [Read more...] about APRA releases CPS 230 notification forms

The Australian Prudential Regulation Authority (APRA) has published a speech delivered this afternoon by Executive Director of Cross-industry Risk Chris Gower to the AFIA Risk Summit on the Gold Coast. In “Preparing for the long haul: operational resilience in a shifting geopolitical … [Read more...] about APRA publishes Executive Director Chris Gower’s speech on operational resilience

CPS 230 signifies a pivotal transformation in Chubb's engagement with material third-party partners, particularly those with delegated underwriting, claims, and/or complaints handling authority. At Chubb, we view CPS 230 as an opportunity to enhance collaboration with our partners, including … [Read more...] about Chubb Navigating CPS 230: A New Era of Partnership and Resilience

CPS 230 is a compulsory prudential standard issued by the Australian Prudential Regulatory Authority (APRA) which will come into effect on 1 July 2025. … [Read more...] about Wotton Kearney – What is CPS 230