Legal Risk Blamed For Equitable Life Fall


LONDON -- Miscalculation of legal risk was ultimately behind the fall of UK mutual life assurer Equitable Life Assurance, a UK parliamentary committee was told in February by senior company executives and UK regulators.

Equitable, although remaining solvent, was forced to close its doors to new business in December after a decision by judges in Britain's highest court, the House of Lords, left it with £1.5 billion ($2.2 billion) of uncovered liabilities (see Operational Risk, February 2001, page

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here