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"Equitable Life Policyholders Should Be Compensated, Report Says " PDF Print E-mail
Written by Wilfred Ling   
Wednesday, 16 July 2008

Did anyone read this interesting news article "Equitable Life Policyholders Should Be Compensated, Report Says"? I find it interesting because the UK regulator potentially is facing a liability for failing "to supervise it adequately" Will this ever happen in Singapore?

Thinking out loud, will the following ever happen in Singapore?

  • Collapse of a bank (note: only S$20,000 of cash deposit is insured unlike in USA which US$100,000 is insured)
  • Collapse of a local insurer like Equitable Life? Note: In some jurisdiction like Isle of Man, 90% of the insurer's liabilities are insured if it collapse.
  • Like FSA in UK, will the regulator ever face legal liabilities for failure in its supervision? I read in this blog Regulation of insurance that occurs to me that regulators do need to exercise some responsibilities.
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