Lessons from HIH Insurance : the final verdict

Michael A. Adams

    Research output: Contribution to journalArticle

    Abstract

    Two years ago as Royal Commissioner of the HIH Corporate Investigation, Owen J handed down the Final Report — The Collapse of HIH Insurance, which examined with forensic detail Australia’s largest corporate collapse of $5.3b. The report ran to over 500 pages, involved three volumes in 24 chapters and had 61 policy recommendations and numerous referrals to regulators for further investigation. The Royal Commission involved 52 parties, over 100 witnesses, 228 hearing days, 19,771 pages of transcript and over 44 million documents. The information had to be examined by 120 staff including the Royal Commissioner, the 26 lawyers assisting and the 20 forensic accountants and actuaries. After all this time and money spent on a single investigation, what was the final verdict?
    Original languageEnglish
    JournalButterworths Corporation Law Bulletin
    Publication statusPublished - 2005

    Keywords

    • Australia
    • Australia. Royal Commission into HIH Insurance
    • HIH Insurance
    • corporation law
    • insurance companies
    • white collar crimes

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