SIRA Bulletin - Issue 54
20 July 2023
Welcome to the July edition of the Bulletin!
As we commence a new financial year, SIRA continues to focus on driving higher levels of regulatory effectiveness. It allows us to review the work we have done and refine our frameworks and practices to ensure they continue to be robust and transparent.
Just over a year ago we introduced our Regulatory Publishing Policy, supporting one of our strategic priorities to publish clear and transparent information about our activities and in this issue, you’ll hear about our most recent actions, including a letter of censure to NRMA and special conditions imposed on Ventia. We continue to take measures to protect employers and workers impacted by the news that Catholic Church Insurance would cease offering workers compensation, with SIRA’s enforcement team working with non-compliant entities.
In other news, we continue to initiate digital opportunities that will enhance sector capability, read about SIRA’s worker or contractor tool which has been launched to assist employers assess the difference between workers and contractors for the purpose of understanding workers compensation obligations.
I’m looking forward to sharing news about our regulatory efforts as the year progresses.
Adam Dent
Chief Executive
Action taken to ensure workers continue to be protected
In response to the announcement that Catholic Church Insurance would cease offering new or renew existing workers compensation insurance policies, SIRA has taken proactive steps to ensure policy holders remain compliant.
Worker or contractor tool
To help you assess the difference between a worker, a deemed worker and a contractor and ensure you comply with your workers compensation obligations, SIRA has developed the online/interactive ‘Worker or Contractor Tool’.
Ventia special licence conditions
SIRA has imposed special licence conditions on Ventia’s workers compensation self-insurer licence in response to poor compliance and claims management practices.
NRMA Insurance letter of censure for delays in payments
SIRA has issued a letter of censure to Insurance Australia Limited trading as NRMA Insurance (NRMAI) following delays in commencing weekly payments of statutory benefits in 43 CTP claims.
Mild traumatic brain injury fact sheet
SIRA, in partnership with the Agency for Clinical Innovation, has developed an updated fact sheet to help provide the right treatment and recovery for people with mild traumatic brain injury.
Workers compensation benefits indexation from 1 July 2023
The workers compensation benefits guide has been updated to include details on the latest indexed adjustments that apply to benefits on and from 1 July 2023.
CTP Insurer Comparison Report March 2023
SIRA provides information on how insurers perform to help people make meaningful comparisons between insurers when purchasing their Green Slip.
Nominal Insurer Audit Report March 2023
SIRA has conducted an audit of the Nominal Insurer, icare, to ensure compliance and performance with legislative requirements for information gathering to determine the weekly benefit entitlement for injured workers.
Assessment of CTP insurer profit underway
SIRA has reached the second stage in our annual assessment of compulsory third party (CTP) insurer profit, which will ultimately determine if insurer profit should again be clawed back and returned to NSW drivers.
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