In its public hearings, the Commission focused upon the life insurance and general insurance industries, not on the marine or health insurance industries. This focus was consistent with the complaints made to the Commission, with the misconduct and conduct falling below community expectations disclosed by entities in their responses to my initial inquiries, and with the material provided to the Commission by the Australian Securities and Investments Commission (ASIC) and the Financial Ombudsman Service (FOS).

I begin by making some general observations about the history of insurance in Australia, and, in particular, the life and general insurance industries.