NRMA Insurance is refunding tens of thousands of New South Wales drivers after admitting it charged too much for compulsory third party (CTP) cover. The State Insurance Regulator has fined the company $479,500. The regulator found the insurer short-changed customers on promised discounts and refunds in several cases. The most serious breach was applying the
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Four Australian startups raised a combined $31 million this week, according to SmartCompany’s funding round-up. Sydney’s MP Space raised $23 million in seed funding, led by Blackbird, to build spacecraft power systems in Australia. The money will go to manufacturing and growing its engineering team. Adelaide AI robotics startup Metacognition received $5 million from Airtree,
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