Regulatory Change (CPS230)

With the imminent commencement of CPS230 for the insurance market in July 2025 and the heightened focus of the regulators on third party insurance distribution arrangements (from ASIC’s focus on end-to-end product governance under the DDO and cyber risk management to APRA’s pursuit of capital charges for poor oversight of ...

Insurance Compliance - July 2024 Understanding the impacts of APRA Prudential Standard CPS 230 (Operational Risk Management)

APRA's focus on insurers use of Underwriting Agencies (CPS 230) In a speech to the ICA Annual Conference in Brisbane on 16th October, APRA Executive Board member, Suzanne Smith said, 'a focus for APRA over the coming year: [is] the risk associated with outsourced underwriting to agencies.' What is CPS ...