Royal commission delays Suncorp, Youi evidence

The Hayne royal commission has delayed an examination of Suncorp and Youi’s response to natural disasters until September, when it expects to consider a range of general and life insurance issues. Case studies involving the two companies were listed for the commission’s fourth block of hearings, which started in Brisbane last Monday before continuing in Darwin this week. The two-week hearings were to focus on natural disasters, farming finance and interactions between Aboriginal and Torres Strait Islander people and the financial sector. Commissioner Kenneth Hayne said last Tuesday the farming issues require extra time for scrutiny and the natural disaster insurance matters will be deferred to a sixth block of hearings in Melbourne in September. The sixth block’s schedule is likely to consider conduct of general and life insurance companies and their intermediaries “in some respects”, plus natural disaster responses. “It’s in the nature of all court and court-like proceedings that matters sometimes arise that cause change to even what we hoped were the best-laid plans,” he said. Issues covered by the royal commission this week will include the sale of funeral insurance in Indigenous communities. ACBF Funeral Plans is among the companies listed to appear at the hearings in Darwin. 

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