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APRA faces big lawsuit loss, says R&G

Rural & General Insurance Brokers, which is suing the Australian Prudential Regulation Authority (APRA) for defamation in the ACT Supreme Court, says the regulator “has so far failed to file a notice of appearance within the timeframe allowed”. The dispute arises from allegations made by APRA regarding the licence conditions under which insurer Rural & General International Insurance operates in Vanuatu.