The insurance industry’s response to the coronavirus pandemic and its performance since the Hayne royal commission will be scrutinised next week during two days of Federal Parliament committee hearings.

Executives from both the general and life insurance sectors will appear before the hearings, which will begin on Tuesday morning via videoconference.

The Insurance Council of Australia (ICA) is set to appear first before the House of Representatives Standing Committee on Economics, followed by the Australian Financial Complaints Authority.

Allianz, Clearview, AIA and TAL Life will also appear on the first day, while Youi, Suncorp, IAG, and QBE are scheduled for Wednesday. Funeral insurer Youpla, the former Aboriginal Community Benefit Fund, is also listed for the second day.

Economics Committee Chairman Tim Wilson says Australians should be able to rely on insurers to provide high-quality policies and respond quickly when claims are made, and the hearings are an important mechanism for the Parliament to publicly scrutinise the sector.

“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,” he said today.

“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.”

The hearings are part of the committee’s “Review of the Four Major Banks and other Financial Institutions”, which was referred to it last year by Treasurer Josh Frydenberg.

The review broadens the mandate of the economics committee, which under a previous referral had focused on annual scrutiny of the big four banks.

Mr Frydenberg said last year the committee’s work would help provide transparency on actions financial institutions are taking to implement Hayne recommendations, contributing to restoring community trust.

ICA will be represented on Tuesday by CEO Rob Whelan, supported by members of his executive team.

Spokesman Campbell Fuller told insuranceNEWS.com.au today that “ICA appreciates the opportunity to share with the committee the industry’s response to the royal commission, natural disaster season and COVID-19”.