Review of implementation of the proposed self-insurance licensing framework

We are consulting on the implementation of the proposed licensing framework and supervisory model. We want to hear your views.

  • The Issue

    Consultation period: 09/09/2016 12:00 am to 11/11/2016 11:59 pm

    We have been carrying out a review of our self-insurance licensing framework. The first round of consultation identified potential regulatory reforms which aim to develop an innovative self-insurance licensing framework that will provide strong fair results, focused regulation of insurers and improved outcomes for injured workers.

    On the basis of feedback arising from the first round of consultation (now closed), PricewaterhouseCoopers (who are helping us with this consultation) developed a report. The report’s recommendations form the basis of our proposed licensing framework.

    We would like to hear your views on the implementation of the proposed licensing framework and supervisory model.

    To do this we recommend you read all the documents below.

    We prefer you to use our online form, towards the bottom of this page.

    Self-insurer security requirements are not included in this consultation as prudential requirements across all insurers are being reviewed as part of a separate consultation called workers compensation financial and premiums supervision. This consultation is currently underway.

    Please read our consultations submissions procedure before making any submission.

    For more information, email SIfeedback@sira.nsw.gov.au.

  • Milestones

    • 9 September - 11 November 2016: Submissions open
    • 14 December 2016: We released a summary of the submissions
  • Outcomes

    A public consultation was completed on 11 November 2016.

    Thirty-four submissions were received including fifteen non-confidential submissions.

    We have developed a submissions summary paper which is available to the public.

    We will continue to review our stakeholders’ comments and provide a final self-insurance licensing framework in early 2017.

    View the submissions here

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