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5-3-2025
The introduction of APRA’s Prudential Standard CPS 230 is raising concerns about its impact on smaller insurance agencies. While the standard is aimed at improving operational resilience for APRA-licensed insurers, it also affects those in the broader insurance ecosystem, including smaller agencies.
Smaller agencies may face challenges meeting the new compliance requirements due to limited resources. However, the article highlights that embracing technology to streamline compliance and risk management could help these agencies stay competitive.
Key Takeaways:
Smaller agencies may struggle with CPS 230’s demands but can use tech solutions to simplify compliance.
Proactive preparation and operational resilience are crucial for staying ahead of the regulatory curve.
Read the full article here: Is CPS 230 a Threat to Smaller Agencies?
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Curium would like to acknowledge the Traditional Owners of the land where we work and live – the Gadigal and Bidjigal peoples who traditionally occupied the Sydney coast. We pay our respects to Elders past and present. We celebrate the stories, culture and traditions of Aboriginal and Torres Strait Islander Elders of all communities who also work and live on this land.
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