Fiji Insurer Faces Scrutiny Over Hiring of Convicted Consultant
A senior consultant at Sun Insurance Company Limited in Fiji has been convicted of two counts of indecent assault, leading to questions about the company's due diligence process.
Mohammad Nouzab Fareed was convicted by the Suva Magistrates Court and is currently on remand. Sun Insurance issued a market announcement confirming that Fareed had been engaged as chief transformation consultant for a 20-month assignment, which had now concluded.
The company described Fareed's work in achieving the objectives set for him as 'sterling' but refused to answer questions about the due diligence conducted before his appointment.
The Reserve Bank of Fiji's Insurance Supervision Policy Statement No. 7 (ISPS 7) contains an explicit provision on this exact distinction, stating that a responsible person should not be acting as a consultant or advisor for the insurer to which they are being appointed.