Deferred sales model
21 September 2018
Ms Orr questions ICA's Mr Whelan over the group's slow response to problems in the add-on insurance area.
Royal Commission Live
Whelan on add-on insurance
21 September 2018
Ms Orr questions Mr Whelan about the poor performance of add-on insurance, that people have been pressured into sales, they have represented poor value and commissions paid out were higher than benefits received by consumers.
Questions on code
21 September 2018
Mr Whelan is questioned about the general insurance code of practice, and new measures to be introduced in the next version.
Royal commission Friday
21 September 2018
The royal commission gets away to an early start today with the hearings commencing at 9am as the focus shifts to regulation.
THURSDAY’S SUMMARY: Suncorp 'put vulnerable family at risk'
20 September 2018
THURSDAY'S SUMMARY: Suncorp was full of apologies at the Hayne royal commission today, after leaving a vulnerable family in an unsafe property and trying to fob them off with a cash settlement way below their proper entitlement.
Dransfield finishes evidence
20 September 2018
We learn that FOS found in 2016 that Suncorp had "definite systemic issues" in three areas - complaints handling, claims handling and implementing FOS determinations.
Suncorp breached code
20 September 2018
Mr Dransfield accepts that in regards to this claim Suncorp breached the General Insurance Code of Practice in several areas.
FOS finds in family's failure
20 September 2018
The Healds rejected that offer, and put in a counter-offer of more than $748,000, which Suncorp rejected.
Suncorp delays after FOS determination
20 September 2018
Mr Costello says FOS determined on January 11 2017 that the house should be rebuilt.
Suncorp aware of health problems
20 September 2018
Mr Costello says Suncorp was aware of Ms Heald's children's health difficulties "from an early stage" of the claim.
Suncorp apologises to family
20 September 2018
Mr Dransfield returns to the witness box to be questioned by Counsel Assisting Mark Costello.
FOS determined settlement
20 September 2018
FOS finally determined that the house needed to be rebuilt and the family should be paid $744,000.
Suncorp refused to move family out
20 September 2018
Ms Heald says she begged Suncorp to move the family out.
Suncorp keen to cash settle
20 September 2018
A quote of $30,000 was given for repairs and Suncorp wanted to cash settle.
Complaints over Suncorp communication
20 September 2018
Ms Heald says they were not happy with an engineer's report and requested another one.
Mother gives evidence of storm claim
20 September 2018
We are hearing from Bernadette Heald, whose home in NSW's Hunter Valley was damaged in a severe storm in April 2015.
Replacement cover penalties
20 September 2018
Suncorp fines paid over the misleading complete replacement cover advertising amounted to a tiny fraction of the $426 million annual premium income received from the products, the commission hears.
Misleading advertising campaign
20 September 2018
Suncorp launched a new advertising campaign for its complete replacement cover, even while ASIC was raising concerns it might mislead customers, the commission hears.
ASIC hamstrung on claims
20 September 2018
Ms Orr says there are concerns ASIC is hindered in taking action due to a claims handling exemption in the financial services definition, and there are moves to consider whether there should be changes.
Improper renewal notices sent
20 September 2018
Suncorp had sent renewal notices to people whose homes had been destroyed in the fires, the commission hears.