The Administrative Appeals Tribunal has overturned the disqualification of Charles Abbot, a former director of HIH Insurance.
The Australian Prudential Regulation Authority (APRA) disqualified Abbot in 2005 from being or acting as a senior manager or director of a general insurer as a result of his conduct as a director of HIH. He was an alternate director of HIH from 1995 to 2007, a non executive director from 1997 to 2001 and deputy chairman from 2001 onwards. Abbot will now be treated as though he had never been disqualified.
Abbot appealed APRA’s decision with the Administrative Appeals Tribunal in 2005.
