There is therefore a real risk that personal and domestic policy claims (with the exception of CTP claims) made on policies not current at 1 January 2001 and on policies not covered by the Allianz arrangements, may not be capable of being fully satisfied.According to the provisional liquidator, CTP policy claims will be met in full either by Allianz (policies current at, or issued by Allianz since 1 January 2001) or through the relevant state statutory schemes regardless of when the policy was issued.On November 22, 2013 (the "Petition Date"), FAH Liquidating Corp.
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On Thursday, 15 March 2001, HIH received approval from the NSW Supreme Court to place HIH into provisional liquidation.
Tony Mc Grath of KPMG was appointed as provisional liquidator to HIH and 17 of its controlled entities.
Accordingly, current CTP policies do not need to be replaced and normal claims processes remain in place.
Workers' Compensation Insurance Schemes exist in each state and territory to make payments to claimants under certain circumstances.
Accordingly, most current policies in this category of insurance do not need to be replaced.