In this edition: Compliance and Performance Review of the Nominal Insurer.
Compliance and Performance Review of the Nominal Insurer
The State Insurance Regulatory Authority (SIRA) has commissioned a Compliance and Performance Review of the NSW Workers Compensation Nominal Insurer, which is managed by Insurance and Care NSW (icare). This includes work undertaken on icare’s behalf by its agents (Allianz, EML and GIO).
The review is being undertaken for SIRA by an Independent Reviewer, Ms Janet Dore, and supported by SIRA's independent scheme actuaries Ernst and Young (EY) and authorised officers of SIRA.
The integrated review includes:
- Independent Reviewer stakeholder meetings with key employer, worker and other stakeholder groups
- an audit of compliance with legislation and relevant guidelines including the Market Practice and Premiums Guidelines (MPPGs) led by the independent actuaries
- a performance review in relation to claims management, return to work outcomes and other objectives and requirements under the legislation by the independent actuaries, and
- public consultation.
You are invited to provide a submission on the matters outlined in the discussion paper.
Submissions close on 14 June 2019.
For more information, and to make a submission, visit http://www.sira.nsw.gov.au/consultations.