The House of Representatives Standing Committee on Economics will scrutinise the insurance sector over two days of hearings by videoconference on 28 and 29 April 2020, as part of its ongoing review of the four major banks and other financial institutions.
The Chair of the committee, Mr Tim Wilson MP, said ‘these hearings are an important mechanism for the Parliament to publicly scrutinise and hold Australia’s insurance sector to account’.
‘Insurance is an essential way that Australians and Australian businesses manage risk and protect themselves from financial loss after disaster strikes. Australians must be able to rely on the insurance sector to provide high-quality policies and respond quickly when claims are made.’
‘Given the widespread misconduct in the insurance sector identified by the Hayne Royal Commission, it is important that insurers and those in the industry are held accountable to ensure that they are making the crucial improvements needed to restore trust in the sector.’
‘The COVID-19 pandemic has also raised a number of relevant issues relating to policy coverage ranging from travel insurance, landlord insurance and income protection that also need to be explored.’
Public hearing details
Date: Tuesday, 28 April 2020
Time: 9.15am to 5.00pm
VIDEOCONFERENCE
|
Date: Wednesday, 29 April 2020
Time: 9.15am to 3.30pm
VIDEOCONFERENCE
|
9.15am
10.45am
11.00am
12.00pm
1.00pm
2.00pm
3.00pm
4.00pm
5.00pm
|
Insurance Council of Australia
Break
AFCA
Allianz Australia
Break
Clearview Life Insurance
AIA Australia
TAL Life
Close
|
9.15am
10.15am
11.15am
11.30am
12.30pm
1.30pm
2.30pm
3.30pm
|
Youi
Suncorp
Break
Insurance Australia Group
Break
Youpla
QBE Australia
Close
|
|
|
|
|
The hearings will be broadcast live at aph.gov.au/live.
For media comment: Please contact the Committee Chair Mr Tim Wilson MP:
Electorate: (03) 9557 4644; Parliament: (02) 6277 2392
For background information: Please contact the committee secretariat:
Phone: (02) 6277 4587 Email: economics.reps@aph.gov.au Website:www.aph.gov.au/economics