APRA chief denies HIH failings 1 FIRST Edition
Dr [Jeffrey Carmichael] told the commission he had only a "general understanding" of how insurers determined how much money they should set aside to pay future claims. He admitted that when he was appointed to the APRA board in 1998, he had not heard of HIH, then the second-biggest general...
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| Published in | Herald-Sun news-pictorial |
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| Format | Newspaper Article |
| Language | English |
| Published |
Melbourne, Vic
News Limited
09.11.2002
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| Subjects | |
| Online Access | Get full text |
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| Summary: | Dr [Jeffrey Carmichael] told the commission he had only a "general understanding" of how insurers determined how much money they should set aside to pay future claims. He admitted that when he was appointed to the APRA board in 1998, he had not heard of HIH, then the second-biggest general insurer. It was not until after HIH collapsed that a general insurance expert was appointed to the APRA board, Dr Carmichael said, because it was unable to find someone with the right qualifications and availability. |
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| ISSN: | 1038-3433 |