APRA has felt the need to issue a media release reassuring the public that HIH is “not typical of other large insurance companies”.

As the scale of the HIH collapse becomes more evident – and the public becomes more wary about the general health of the industry – the regulator acknowledged that many people have asked whether other insurers have similar problems. “There are no other significant insurers about which APRA has the numerous questions and concerns that it pursued with HIH over the past several months,” the APRA release said.