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Analysing HIH's recent events
Title: Analysing HIH's recent events
Category: Literature / English
Details: Words: 1246 | Pages: 5.3 (approximately 235 words/page)
Analysing HIH's recent events
On March 15, 2001, Australia¡¯s second largest insurance company HIH collapsed and an application for its liquidation was submitted. It soon escalated into Australia¡¯s biggest corporate failure in June after the insurer¡¯s final tally of losses was estimated to be about billion in Australia and almost billion worldwide, very well above the early estimate of billion . HIH¡¯s demise was mainly due to the criminal and unethical activities that the company directors committed, as …showed first 75 words of 1246 total…
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…showed last 75 words of 1246 total…Insurance Group. Additionally, some State Government have provided rescue packages for HIH¡¯s policyholders to free from the stranded situation due to the liquidation of the insurer. For example, a new levy on building permits could cover half the cost of a million Victorian Government rescue package for victims of the HIH collapse. The investigation of HIH is still continuing, and it is a long-term battle for all the people who have been involved in.
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