19 August 2024
This month, I’m pleased to share SIRA’s major board changes and the launch of the review into the Home Building Compensation Fund.
Firstly, I’d like to extend a heartfelt thank you to Trevor Matthews, who as the inaugural Chairman, is largely responsible for the SIRA we know today. I also want to thank outgoing board member Rod Stowe PSM, who served 4 terms at SIRA during his impressive 41 years as a public servant.
While we bid farewell to these key board members, we're delighted to welcome our new Chair, Nicholas Whitlam, and member, Helen Rowell. Nicholas brings extensive expertise in banking and insurance from leadership roles across the public and private sectors. Helen comes to us from a 21-year tenure at APRA. Her role in shaping Australian insurance regulation will also be a welcome addition to the board.
In other news, SIRA has commenced a review of the Home Building Compensation Fund, focusing on updating the decade-old coverage limits to reflect current building costs. The independent review conducted by respected industry leader Bronwyn Weir aims to bolster confidence and stability in the construction sector and promises to enhance protections for families building homes in NSW.
I’m looking forward to the findings leading to real improvements for those facing building insolvency and other issues.
Mandy Young
Chief Executive
Review of HBC Fund
SIRA has commenced a review of the Home Building Compensation Fund (HBCF) to identify better protections for homebuilders, fulfilling an election commitment from the NSW Government.
SIRA appoints Nicholas Whitlam as new Chair to board and welcomes Helen Rowell as a new member
SIRA is delighted to announce the appointment of Nicholas Whitlam as its new Chair, succeeding Trevor Matthews.
Fraud Framework now available
SIRA has recently published its Fraud Framework. It sets out the approach to deter, detect and respond to fraud. The Framework aligns to SIRA’s Regulatory Framework and approach to being a contemporary regulator that is customer-centric, intelligence-led and risk-based.
Special conditions imposed on B.I.C. Services Pty. Limited’s workers compensation licence
The special conditions were imposed in response to issues regarding compliance and claims management practices. A self-audit identified issues with BIC’s case management practices and compliance with the workers compensation legislation.
Updates to the Claims Management Guide
SIRA has completed a review of the Claims Management Guide for workers compensation, to ensure the information provided remains up to date and consistent with legislative requirements.
Workers compensation insurer recovery through work performance report published
The refreshed insurer recovery through work performance report is now available on SIRA's website, including updated data as at 31 March 2024.
SIRA and the Personal Injury Education Foundation have released the second of their Early Intervention Case Management Modules
The next workshop, ‘Person Centred Case Management Approach’, will be held on 23 August 2024. The training is designed to equip insurer case managers with the knowledge, skills and tools necessary to proactively coordinate a person's claim in the NSW Workers Compensation System and Motor Accidents Scheme. Enrol for the workshop and learn more.
SIRA Board communique June 2024
SIRA has published the communique from the board meeting held on 28 June 2024. The SIRA Board meeting was the last for Chair Mr Trevor Matthews and member Mr Rod Stowe PSM.
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Updated 27 May 2025