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The Compensation Scheme of Last Resort (CSLR) will not fully utilise the $24.1m levy raised for the 2025 financial year,...
02/06/2025

The Compensation Scheme of Last Resort (CSLR) will not fully utilise the $24.1m levy raised for the 2025 financial year, as slower claim processing moves payments into future years.
Although the volume of claims originally forecast in December 2023 is still expected to materialise, delays in cases reaching the CSLR mean a significant portion will be processed in FY26. The revised timeline has prompted the scheme to project an underspend for the current year.
https://riskinfo.com.au/news/2025/05/27/cslr-underspend-due-to-lower-claims/

ASIC has issued two infringement notices totalling $37,560 to Zurich Australia after it self-reported incorrectly declin...
20/05/2025

ASIC has issued two infringement notices totalling $37,560 to Zurich Australia after it self-reported incorrectly declining two insurance claims.
Zurich discovered its mistake during a quality assurance review, told ASIC, and paid the benefit entitlements with interest. The firm paid the infringement notices on 8 May 2025.
https://riskinfo.com.au/news/2025/05/16/asic-issues-infringement-notices-to-zurich/

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Riskinfo is a free news and information resource service designed for financial services professionals in Australia. In particular, Riskinfo has been designed and written for:


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