In this episode of Financial Services Online's Daily News Wrap, host Paige Estritori discusses key updates in Australia's financial and insurance sector. Melbourne-based Sterling Insurance expands its Professional Indemnity offerings through a partnership with Lloyd's, widening its reach to various professionals and marking its growth in this sector. The Australian Treasury initiates a reform consultation for Professional Indemnity insurance to strengthen it as consumers' primary protection, lessening dependability on the Last Resort Compensation Scheme. Additionally, Sydney's Insurtech firm, Upcover, launches an innovative indemnity and public liability coverage for nurses offering up to 20 million dollars worth of coverage. Lastly, Allianz Australia Insurance and its subsidiary, AWP Australia, face a 16.8 million dollar fine from New South Wales' Supreme Court, emphasizing the significance of transparency and comprehension in insurance advertising.n

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