Insurance companies that look the other way as financial advisers churn customers through life insurance policies for a quick buck are set to be named and shamed by the Hayne royal commission as it begins its sixth round of hearings on Monday.

AMP is among those in the frame for the practice, after ASIC filed a civil claim against the company earlier this year. ASIC alleged AMP "knew or ought to have known" advisers were churning customers and that the company "failed to take reasonable steps to deal with the conduct".