The Royal Commission in Financial Services Misconduct has announced that the sixth round of public hearings will focus on the Insurance Industry and will be held in Melbourne from Monday 10 September to Friday 21 September. AMP, CommInsure, IAG and Youi are among the case studies to be considered. More grief for the industry we suspect as more bad behaviour is uncovered!
The sixth round of public hearings will consider issues associated with the sale and design of life insurance and general insurance products, the handling of claims under life insurance and general insurance policies, and the administration of life insurance by superannuation trustees. The hearings will also consider the appropriateness of the current regulatory regime for the insurance industry.
The Commission presently intends to deal with these issues for the purposes of the public hearings by reference to the case studies set out below. These include the natural disaster case studies that were originally to have been examined in the fourth round of public hearings. Entities are named in alphabetical order and not in the order in which the evidence of those entities will be heard.
| Topic | Case Studies | |
| 1. | Life insurance |
|
| 2. | General insurance |
|
| 3. | Regulatory regime |
|
During the hearings, evidence will also be given by consumers of their particular experiences. The entities that are the subject of consumer evidence will be informed by the Commission.
