The former head of a failed insurance firm says the Reserve Bank got it wrong when they applied for liquidation
The former head of a failed insurance firm says the Reserve Bank got it wrong when they applied for liquidation
3 July 2019
The Bank's released its review today, justifying its High Court application to liquidate CBL Insurance.
But former Managing Director of CBL's parent company, Peter Harris, says the Reserve Bank has failed its own report card as the country's insurance regulator.
He says the review provides little insight into why the Bank moved to take liquidation action
Harris says the review fails to provide confidence regulation of the insurance market is in capable hands.
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