The ICA, ICNZ and other industry groups have jointly written to their respective Prime Ministers calling for the issue to be put on the Commonwealth Business Forum agenda.
Committee says there was a "collective failure" by insurers to meet policyholder obligations and has proposed 86 recommendations to improve fairness and consumer protection in the industry.
John Lee also used his annual policy address to announce plans to conduct a sector wide insurance review that would look at capital requirements for infrastructure investments.
