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.

Read the full publication from The Treasury on the The HIH Claims Support Scheme here.