In this week's podcast, Paige Estritori covers a range of insurance news updates from Australia. First, a PwC report raises concerns about Australian insurers' readiness to tackle cyber risks, emphasising the importance of robust cybersecurity and risk management systems. The Australian Treasury is implementing reforms on professional indemnity insurance to strengthen the Compensation Scheme of Last Resort as concerns grow about its financial sustainability. The insurtech company Upcover ensures professional indemnity insurance for nursing professionals, offering a tailored solution for Australia's substantial nursing workforce. Despite recording $1.111 billion in claim payments, APRA reports an 8% decrease in professional indemnity claims paid, offering an advantageous moment for securing cost-effective coverage. For more information, visit financialservicesonline.com.au.n

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