The insurance broking industry is confident it can persuade regulators there is nothing wrong with taking commissions from insurers, after the Hayne report recommended a three-year stay of execution for the industry's favoured remuneration model.

Like mortgage brokers and life insurance advisers, general insurance brokers are heavily reliant on commissions, and the industry was concerned the banking royal commission would take the Australian Securities and Investment Commission's advice and recommended they were banned outright.