Mr Mason also told the conference the industry hasn’t forgotten about the recommendations of the HIH Royal Commission. He says the Insurance Council of Australia (ICA) will keep the pressure on governments to implement the recommendations as “an entire package”.

“In its representations to state and federal governments, ICA will keep hammering the point that these reforms are an integral package, like bricks in a wall,” Mr Mason said. “We’ve been practising singing the Pink Floyd song, ‘Another Brick in the Wall’, while we’re presenting it.”