SIRA bulletin - Issue 33
Motor accidents regulatory activity
During the second quarter of 2021, SIRA focused its motor accident regulatory and enforcement activity on insurer conduct and compliance.
SIRA undertook targeted reviews relating to renewal notice delays, incorrect calculation of premiums, communication of internal review decisions, liability notice requirements, privacy breaches, and timeliness.
Allianz, NRMA, Suncorp, and QBE were subject to 11 regulatory notices in response to non-compliance. Another six formal remediation plans were put into place for SIRA to oversee improved performance and compliance.
While the Independent Review Office received 418 complaints from injured people about insurers between 1 March and 31 July, no complaints were escalated to SIRA for regulatory action.
Detailed information about regulatory and enforcement activity is available on the website.
McDougall Review status update
The NSW Government has announced that it intends introduce legislation to strengthen governance, regulation, and agency roles in the NSW workers compensation system.
The announcement responds to eight recommendations of the Independent Review of icare and State Insurance and Care Governance Act 2015 Review (McDougall Review), including clarifying SIRA’s regulatory powers in relation to icare and the Nominal Insurer.
SIRA has commenced analysis on other recommendations that propose changes to thresholds and entitlements. A consultation paper will soon be available for public feedback.
Read the detailed update on the status of the McDougall Review.
Have your say: insurer licensing frameworks
Consultation on the licensing frameworks for self and specialised insurers in the workers compensation system is now open.
Licensing frameworks establish the requirements for an insurer to be granted a workers compensation insurance licence. For insurers that already have a licence, the frameworks set out minimum standards of conduct, claims management, and financial ability.
This consultation aims to seek stakeholder views on the existing frameworks and any recommendations for change to ensure that the frameworks remain risk-based and focus on achieving customer and system outcomes.
Have your say on the licensing frameworks for self and specialised insurers before these consultations close on 17 September 2021.
Have your say: Home building construction types
SIRA is providing the public with an opportunity to have their say on home building insurance construction type definitions.
How construction types are defined can have a significant impact on the premium businesses must pay for a project. This consultation aims to make sure that premium costs are allocated fairly for different types of construction work, and that definitions are easy to understand.
Have your say before the consultation closes on 13 September 2021.
Improve the mental health of your workforce
Employers seeking to improve the mental health of their workforce are invited to register their interest in a new coaching program.
The program is open to two large NSW workplaces that can trial the short and long-term effectiveness of low-intensity cognitive behavioural therapy (LiCBT) programs. LiCBT programs provide support and information-based interventions to promote improved mental health at work.
SIRA is funding the John Walsh Centre for Rehabilitation Research and a specialised service provider to undertake this research as part of the Mentally Healthy Workplaces Strategy.
Find out more about how you can partner with us on this research.
Join the CTP Legal Advisory Service
Applications for legal practitioners to join the CTP Legal Advisory Service are now open.
The Legal Advisory Service offers free independent legal advice to people injured in a motor vehicle accident on or after 1 December 2017.
If you are interested in joining this panel, lodge your application before the tender closes on 10 September 2021.
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