On Friday, Cbus chairman and former treasurer Wayne Swan apologised for the slow insurance payout practices of the $94 billion fund. He also doubled down and defended the appointment of three trustees with links to the disgraced CFMEU to the Cbus board.

Both issues raise important governance questions; about the quality of management and board oversight of member service arrangements, and whether recent director nominations by the CFMEU are ideal, given the mess that union and Cbus currently find themselves in.