3 July 2025
The State Insurance Regulatory Authority (SIRA) has released its regulatory priorities for the 2025–26 financial year.
Since its establishment in 2015, SIRA has been focused on achieving improved outcomes for people in the NSW compulsory insurance schemes, to ensure they can access the support they are entitled to and are protected by affordable, stable and accessible insurance schemes. SIRA does this by ensuring the schemes are trusted, financially sustainable and accessible and that regulated entities comply with obligations and are held accountable.
SIRA’s regulatory approach is set out in its Regulatory Framework, establishing a transparent and consistent approach to its regulatory actions. SIRA sets its regulatory priorities to communicate key focus and to provide clarity to stakeholders, regulated entities, and service providers.
For 2025–26, SIRA’s regulatory priorities are aligned with the newly launched SIRA 2028 strategy, which outlines its strategic direction over the next 3 years.
The regulatory priorities for 2025–26 are:
- Strengthening the regulatory environment by improving scheme design, policy, and performance.
- Strategic collaboration to improve scheme outcomes.
- Strong, intelligence-led, risk-based regulatory action.
The priorities were informed by risk assessments carried out across schemes, regulated entities, and customer interactions, using a range of intelligence sources to identify where regulatory efforts will deliver the greatest benefit.
As a modern and responsive regulator, SIRA will continue to monitor the environment and adjust its focus as required to respond to emerging risks and issues.
SIRA Chief Executive, Ms. Mandy Young, said that by setting and publishing these priorities, SIRA is providing transparency around its targeted and strategic approach to regulation. “Publishing our regulatory priorities for the year ahead sets a clear signal to regulated entities and service providers of where our efforts will be concentrated, and how they can align with our expectations.”
“Through the updated priorities, SIRA remains committed to delivering regulatory outcomes that are fair, transparent, and in the public interest,” said Ms. Young.
A range of initiatives will be delivered throughout 2025–26 to support these priorities, guided by SIRA’s Regulatory Framework.
SIRA will monitor progress throughout the year and will report publicly on key developments and outcomes each quarter.
Further information
Updated 4 July 2025