On Paige Estritori's Daily Financial Services News Wrap, Sterling Insurance expands its risk offerings, empowered by a professional indemnity (PI) binding authority with Lloyd's. The expansion targets a multitude of professionals and industries with the aim of bolstering broker partnerships. The Australian Treasury strengthens the Compensation Scheme of Last Resort through a consultation aimed to make PI insurance more robust and reduce reliance on the compensation scheme. The Australian Financial Complaints Authority orders QBE Insurance to honour an arson claim undeterred by the director's undisclosed criminal history, signaling the need for absolute transparency. Australia's biggest strata insurance underwriting agency, CHU, releases the State of the Strata Market 2025 report, emphasizing stability in the industry despite adversities. It urges strata managers and property owners to stay abreast of regulatory changes.

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