Regulators to appear at parliamentary floods inquiry hearing
Australia’s financial regulators will next month appear before the first hearing scheduled as part of the federal parliamentary inquiry into insurers’ responses to major floods claims last year.
The Australian Financial Complaints Authority, Australian Prudential Regulation Authority and Australian Securities and Investments Commission are scheduled to appear at the hearing, to be held in Canberra and via videoconference on December 6.
The House of Representatives Standing Committee on Economics, which is due to report by September 30, is expected to hold a number of hearings over the next year as it seeks information addressing broad terms of reference.
The inquiry has opened an online survey and is continuing to accept submissions from individuals and communities affected by the floods. Organisations were asked to provide submissions by the end of last month.