HIH roundup
24 April 2001
The shockwaves from the HIH collapse continue to grow…
Local
Don’t bank on a levy
24 April 2001
NSW Premier Bob Carr’s call for a levy on all existing insurance policies to finance the HIH claims shortfall was an opportunity QBE MD Frank O’Halloran couldn’t resist…
The score so far…
24 April 2001
Apart from the millions of dollars in claims owed to personal lines policyholders, the situation regarding many commercial lines is causing concern…
Strikes threaten comp reforms
24 April 2001
The troubled NSW workers’ compensation system is being changed again, leading to the usual round of statewide strikes…
WA system settling down
24 April 2001
WA’s new Labour Relations Minister John Kobelke is “hastening slowly” to implement changes in the state’s workers’ compensation scheme…
Dodd goes, his payout lingers
17 April 2001
Latest word on the dramas at NRMA: CEO Eric Dodd, who was fired by the board when he refused to voluntarily stand down, is understood to be seeking a $6 million severance payout…
HIH: It just keeps getting worse
17 April 2001
The HIH collapse is now shaping up as one of the worst in Australian corporate history…
Payments will take up to 10 years
17 April 2001
Mr McGrath, who was appointed as the provisional liquidator on March 15, doesn’t expect much money to be forthcoming to creditors for a long time…
Hand over the $50 million, brokers told
17 April 2001
The HIH provisional liquidator has politely pointed out to brokers that they must comply with their statutory obligations under the Insurance (Agents & Brokers) Act…
States take action
17 April 2001
The WA Government will impose a 5% levy on its workers’ comp premiums to cover expenses relating to the collapse of HIH…
US action looms
17 April 2001
Complicating the HIH legal picture even further is the intervention by three large US fishing groups insured by the company’s North American operations…
New fuel hurts 10,800 old engines
17 April 2001
Low-sulphur diesel fuel being sold in Queensland and northern NSW has led to nearly 11,000 insurance claims from vehicle owners…
FSRB – no surprises, yet
10 April 2001
The Financial Services Reform Bill, introduced into Federal Parliament last Thursday, contains few surprises…
But wait, there’s more…
10 April 2001
Some of the disclosure requirements are not yet known, and analysts are cautioning that the scope being designed into the legislation for ASIC could cause future problems…
Election fever only real threat to passage
10 April 2001
The ALP’s Shadow Financial Services and Regulation Minister Senator Stephen Conroy…
HIH: Scale of the damage is becoming clearer
10 April 2001
As the dimensions of the HIH collapse become clearer – and lawyers begin to recruit disgruntled stakeholders for a class action against the company and its directors…
HIH isn’t typical: APRA
10 April 2001
APRA has felt the need to issue a media release reassuring the public that HIH is “not typical of other large insurance companies”…
Insurance Council is headless
10 April 2001
Not only the NRMA has been affected by the sudden departure of Eric Dodd…
Recriminations over HIH continue
03 April 2001
Prudential regulator APRA has gone on the offensive as it moves to distance itself from the HIH crash…
A dilemma for brokers
03 April 2001
Key stakeholders in the HIH issue will meet with provisional liquidator John McGrath tomorrow to thrash out some thorny issues…