Contest to end extreme fire events

XPRIZE, which conducts incentive competitions to solve some of humanity’s great challenges, has launched XPRIZE Wildfire, a four-year contest, which will award $16m to competing teams that find ways to innovate firefighting technologies and end destructive bushfires.

NDIS set for a reboot

NDIS is here to stay but it needs a “reboot”, NDIS and Services Minister Bill Shorten told the National Press Club yesterday, outlining “six policy directions” to secure the scheme’s continued sustainability.

APRA finds NobleOak in breach of prudential, reporting standards

APRA has notified NobleOak Life Ltd it has breached its prudential and reporting standards, which has resulted in a breach of capital requirements. The breaches relate to the measurement and reporting of NobleOak’s reinsurance exposures and the associated asset concentration risk.

Munich Re stops insuring new oil, gas field projects

As of this month, Munich Re will stop insuring projects involving new oil and gas fields or new midstream oil infrastructure. The decision follows the reinsurer’s move to discontinue its membership in the Net-Zero Insurance Alliance (NZIA).