TITLE

Accounting Has Landed Insurers in Trouble Before

AUTHOR(S)
Lehmann, R. J.
PUB. DATE
April 2008
SOURCE
Best's Review;Apr2008, Vol. 108 Issue 12, p77
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article gives information on several cases involving various insurance executives. The former chief executive officer of HIH Insurance Ltd., Dominic Fodera, pleaded guilty in making misleading statements in financial reports and prospectuses in December 2004 while Rodney Adler, former director of HIH, charged of making false statements and failing in his fiduciary duties. Also, former executive of Reciprocal of America, Carolyn Hudgins, pleaded guilty of insurance fraud.
ACCESSION #
31598605

 

Related Articles

  • TOO BIG TO FAIL. Kaye, Tony // Journal of the Australian & New Zealand Institute of Insurance &;Dec2016, Vol. 39 Issue 4, p37 

    The article explores the business closure of insurance company HIH Insurance Ltd. in March 2001, by the Australian Prudential Regulation Authority (APRA) on issues of mismanagement and fraud. An overview on the impacts of the insurance companies business losses is mentioned and the country's...

  • Former HIH executive loses appeal of prison sentence. Veysey, Sarah // Business Insurance;5/22/2006, Vol. 40 Issue 21, p21 

    The article reports on the decision of the New South Wales Court of Appeal to dismiss an appeal by Rodney Adler of his prison sentence without parole for his role in the decline of HIH Insurance Ltd. Adler has entered a plea of guilt to the charge of making false statements. Former CEO Ray...

  • Out but not down. Sexton, Jennifer // Bulletin with Newsweek;10/23/2007, Vol. 125 Issue 6592, p36 

    The article focuses on the life of Rodney Adler, former director of HIH Insurance, after his release from prison. It is stated that Adler wants to unshackle the imprisonment time and the $30 million he has spent fighting and settling legal battles over his involvement in Australia's biggest...

  • JUDGMENT DAY. Light, Deborah // Bulletin with Newsweek;7/29/2003, Vol. 121 Issue 6383, p18 

    The article focuses on Sydney, New South Wales-based businessman Rodney Adler. Later this year or next, juries will decide the immediate fate of Adler. But in the meantime, the city that made him rich and famous has already delivered its verdict. It's a story of a man who is perhaps perceived as...

  • Another Long Road. Hemenway, Chad // Best's Review;Apr2008, Vol. 108 Issue 12, p78 

    The article provides information on the conspiracy and fraud cases faced by five former insurance executives in the U.S. The executives are: Ronald Fergusson, Elizabeth Monrad, Robert Graham, Christian Milto and Christopher Garand. It talks about the guilty verdict for five dependants that...

  • Former HIH exec sent to prison. Fry, Elizabeth // Business Insurance;5/14/2007, Vol. 41 Issue 20, p33 

    The article reports that Dominic Fodera, the former chief financial officer of collapsed insurer HIH Insurance Ltd., faces imprisonment for omitting information from a financial transaction. The Australian Securities & Investments Commission charged Fodera with authorizing the issue in 1998 of a...

  • Former CFO of HIH nets prison sentence. Fry, Elizabeth; Veysey, Sarah // Business Insurance;6/11/2007, Vol. 41 Issue 24, p25 

    The article reports on the prison sentence faced by Dominic Fodera, former chief financial officer (CEO) of HIH Insurance Ltd., for his role in the company's collapse. In November 2005, the Australian Securities and Investments Commission charged him with authorizing the issue of a 1998...

  • HIH collapse roils regulators. Tomlinson, Damien; Tilley, Kate // Business Insurance;03/26/2001, Vol. 35 Issue 13, p15 

    Reports on the financial collapse of Australian insurer HIH Insurance Ltd. Increase of the ability of regulators to intervene sooner in financially troubled companies; Difficulties faced by the company.

  • HIH Debacle: A Litany of Ineptitude. Howard, Lisa S. // National Underwriter / Property & Casualty Risk & Benefits Manag;7/14/2003, Vol. 107 Issue 28, p21 

    Focuses on the bankruptcy of Australian insurance company HIH Insurance Ltd. Company managers' concealment of the group's steadily deteriorating financial position; Securities and Investments Commission's filing of charges against former officers of FAI General Insurance Co., insurer purchased...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics