SIRA’s Compliance and Performance Review of the Workers Compensation Nominal Insurer has attracted significant interest from employers, workers and industry stakeholders.
More than 100 submissions were received during the extended public consultation period which ended last Friday, 5 July.
A summary of the themes in the submissions will be made publicly available.
The Nominal Insurer, which is managed by icare, is the largest insurer in the NSW workers compensation system and accounts for approximately 65% of total active claims. It provides workers compensation cover for more than 320,000 employers, collects $2.3 billion in premiums, and pays out approximately $1.97 billion in claim related costs per year.
The Independent Reviewer, Ms Janet Dore, has met with individuals and representatives from more than 30 industry bodies including key employers, self and specialised insurers, industry associations, unions and insurers, and will be meeting more in the coming weeks.
She has also held meetings in Tamworth and Wagga Wagga, and further meetings are scheduled in Newcastle and Wollongong on 8 and 9 July 2019 respectively.
SIRA expects to publish a final report by the end of 2019.