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CBL failure a 'dramatic' example of need for stronger supervision

Paul McBeth
Wed, 03 Jul 2019

By Paul McBeth July 3 (BusinessDesk) - The failure of CBL Insurance was a "dramatic" example of the inadequacies of prudential regulation and supervision for insurers and backs the case for greater resourcing, according to a report on how the Reserve Bank handled the case. The central bank commissioned an independent review by John Trowbridge and Mary Scholtens QC to examine its supervision of CBL Insurance, spanning its pre-licensed state in 2011 through to its eventual collapse in early 2018. In a wide-ranging report, the review's...

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CBL failure a 'dramatic' example of need for stronger supervision

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