Economics Committee to scrutinise insurance sector over surge in code breaches - 3 June 2020

Issue date: Monday, 1 June 2020

House of Representatives media release header

The House of Representatives Standing Committee on Economics will hear from the General Insurance Code Governance Committee and the Insurance Council of Australia, as well as insurers at a public hearing via videoconference on 3 June 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.’

‘The General Insurance Code Governance Committee’s recent findings regarding the substantial increase in code breaches is concerning. It is important that insurers have strong code compliance and governance frameworks in place to ensure that consumers are receiving the protections afforded to them by the code.’

‘The COVID-19 pandemic has also raised a number of relevant issues relating to policy coverage ranging from travel insurance to lenders mortgage insurance that also need to be explored.’

Public hearing details

Date: Wednesday, 3 June 2020
Time: 1.00pm to 4.30pm
Location: Videoconference



General Insurance Code Governance Committee


Insurance Council of Australia










The hearings will be webcast at

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:  Website:

House of Representatives media release header


We acknowledge the traditional owners and custodians of country throughout Australia and acknowledge their continuing connection to land, waters and community. We pay our respects to the people, the cultures and the elders past, present and emerging.

Aboriginal and Torres Strait Islander people are advised that this website may contain images and voices of deceased people.