"Someone else's problem"

the failure of the guarantee security life insurance company

Research output: Contribution to journalArticle

24 Citations (Scopus)

Abstract

This paper outlines the weaknesses in insurance regulation and supervision, which led to the failure of the Guarantee Security Life Insurance Company in Florida in 1991. There are comparisons to more recent failures of financial institutions in Australia, including Goldfields Medical Fund and Commercial Nominees.
Original languageEnglish
Pages (from-to)1-64
Number of pages64
JournalAustralian actuarial journal
Volume16
Issue number1
Publication statusPublished - 2010

Keywords

  • insurance regulation
  • assumption reinsurance
  • junk bonds
  • solvency

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