.png) | |
| Formerly |
|
|---|---|
| Company type | Public |
| Industry | Health insurance |
| Founded | 6 April 1988 in Canberra, ACT, Australia[2] |
| Defunct | 15 March 2001 |
| Fate | Provisional liquidation |
| Headquarters | , Australia |
Area served | Australia |
| Website | HIH Insurance at the Wayback Machine (archived 2001-02-02) |
HIH Insurance corporate logo | |
| Inquiries | Royal Commission into HIH Insurance |
|---|---|
| Convicted |
|
HIH Insurance was Australia's second-largest insurance company before it was placed into provisional liquidation on 15 March 2001. The demise of HIH is considered to be the largest corporate collapse in Australia's history, with liquidators estimating that HIH's losses totalled up to $5.3 billion. Investigations into the cause of the collapse have led to conviction and imprisonment of a handful of members of HIH management on various charges relating to fraud. A Royal Commission was formed in the wake of the collapse. It also led to the 2002 Review of the Law of Negligence led by David Ipp and subsequent Tort reform.
- ^ "HIH INSURANCE LIMITED HIH - Profile ii Status". www.delisted.com.au. Retrieved 16 July 2019.
- ^ "Search Results - Organisations and Business Names". Australian Securities & Investments Commission. Retrieved 16 July 2019.