C22 insurance states this to be 'the risk that assets must be sold when the values are depressed in order to meet a benefit payment'. I thought that liquidity was an investment not close to cash and has nothing to do with depressed/boyant values.
I can't remember the exact details, but this discussion has been had before. Wrong subject, I know, but check this post: http://www.acted.co.uk/forums/showthread.php?t=2074&highlight=marketability+liquidity
