Insurer responses to the COVID-19 pandemic and natural catastrophes as well as the industry’s retreat from covering coal mining due to climate change pressures will be examined at two Federal Parliamentary committee hearings tomorrow.

The Insurance Council of Australia (ICA) and major insurers are scheduled to appear before the House of Representatives Standing Committee on Economics as part of its ongoing review of the four major banks and other financial institutions.

“The COVID-19 pandemic quickly following on from a horror bushfire season, and recent extensive flooding in several states has meant businesses and individuals have had to depend upon their insurance companies in ways never before experienced,” Committee Chairman and Liberal Party MP Tim Wilson said today.

“The committee is looking forward to hearing what lessons have been learned by the industry over the course of the pandemic and what policy changes and technological innovations have been adopted in light of the Hayne royal commission.”

ICA will appear first followed during the morning by travel insurer Cover-More, Clear View Life, TAL Life and Allianz. After lunch, the committee will question Suncorp, IAG, Marsh Advantage Insurance and QBE.

Australian Labor Party member Andrew Leigh is Deputy Chairman of the nine-member committee, which also includes Australian Greens leader Adam Bandt.

In a separate hearing, insurance problems faced by coal-mining and resources projects are set to be examined by the Joint Standing Committee on Trade and Investment Growth inquiry into the prudential regulation of investment in Australia’s export industries.

Witnesses scheduled include Adani Group, which in a submission describes the insurance industry’s “boycotting” of thermal coal as “misconceived”.

Other groups appearing include Whitehaven Coal, the Australian Petroleum Production and Exploration Association, the Resource Industry Network, Queensland Resources Council, Minerals Council of Australia, New Hope Group and BMD Constructions.

“Australia’s export industries, including the resources sector, are critical in supporting our national economic recovery from the COVID-19 pandemic,” Committee Chairman George Christensen said today.

“As such, it is timely that this committee examine the challenges and opportunities for these industries in accessing financial services and insurance.”

The inquiry was launched following a referral from Minister for Resources, Water and Northern Australia Keith Pitt, a member of the Nationals party room, who has been pushing for Parliament to look into the climate policies of banks and insurers.

The Australian Labor Party’s Ged Kearney is Deputy Chairman of the Trade and Investment Growth Committee, while the Australian Greens is represented by WA Senator Jordon Steele-John.