The Board received an update on the Audit Office’s observations of the early close procedures performed by SIRA ahead of the finalisation of year-end financial statements in line with requirements for NSW public sector agencies and SIRA’s responsibilities under legislation and was pleased to note there were no significant matters raised.
The Board discussed the progress of the Compliance and Performance Review of the Workers Compensation Nominal Insurer managed by icare. This included discussion about the themes emerging from the submissions made to date as part of public consultation. The Board noted that the public consultation period has been extended to 5 July 2019. The Board also received a verbal report about the Nominal Insurer Liability Valuation as at 31 December 2018.
The Board considered the draft report on the NSW Young Driver’s Telematics Trial, noting that a peer review is being undertaken prior to finalisation of the report. The Trial was led by SIRA in partnership with the NSW Centre for Road Safety and investigated whether telematics use can positively influence young driver behaviour. The Board discussed the next phase of the project which will focus on evaluating the feasibility of telematics solutions and other innovations in improving road safety.
The Board noted a progress report on several other matters relating to the Compulsory Third Party (CTP) Scheme, including an update on the Minor Injury Review program where work is underway on the file review of the first 1000 claims made under the 2017 CTP scheme.
The Board discussed the preliminary findings and recommendations from a review of healthcare arrangements in SIRA-regulated personal injury schemes. The review focused on areas such as trends in medical costs, cross-jurisdictional comparisons of similar schemes and markets, and the risks associated with high-level demographic changes and other healthcare related trends in NSW.
Other matters at the June 2019 Board meeting included:
- Board Members discussed the support for workers who were affected by section 39 of the Workers Compensation Act 1987 who will subsequently be affected by section 59A of the legislation (limit on payment of compensation for medical expenses).
- The Board noted an update on current matters related to the Home Building Compensation Scheme.
- Board Members were provided an update on operational and administrative changes arising from the transition to the new Customer Service Cluster.
Chairperson, SIRA Board