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The HIH claims support scheme

Author

Listed:
  • Claudio Damiani

    (Treasury, Government of Australia)

  • Naomi Bourne

    (Treasury, Government of Australia)

  • Martin Foo

    (Treasury, Government of Australia)

Abstract

The collapse of the HIH Insurance Group in 2001 was a watershed for Australia’s financial sector. The combined government and industry response to its collapse was swift, with the establishment of the HIH Claims Support Scheme to restore confidence to the market and protect a large number of HIH policyholders from potential financial hardship. Despite its rapid development and implementation, the scheme operated effectively and successfully met its objectives.

Suggested Citation

  • Claudio Damiani & Naomi Bourne & Martin Foo, 2015. "The HIH claims support scheme," Economic Roundup, The Treasury, Australian Government, issue 1, pages 18-57, June.
  • Handle: RePEc:tsy:journl:journl_tsy_er_2015_1_2
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    File URL: http://www.treasury.gov.au/~/media/Treasury/Publications%20and%20Media/Publications/2015/Roundup%2001/Downloads/PDF/Roundup_01-2015_article3_HIH.ashx
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    More about this item

    Keywords

    financial crisis; crisis management;

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • G3 - Financial Economics - - Corporate Finance and Governance
    • H8 - Public Economics - - Miscellaneous Issues

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