AGY-6831 | Insurance and Care NSW / icare

Full description

Insurance and Care NSW, known as icare, was established on 1 September 2015 under the State Insurance and Care Governance Act 2015 (Act No.19, 2015). (1) It was one of three organisations constituted under this Act to assume the regulatory and insurance functions of WorkCover, the others being the State Insurance Regulatory Authority (SIRA) and SafeWork NSW. (2)

The changes to the workers compensation system arose from the Government's desire to improve the scheme's financial situation and remove perceived conflicts of interest by separating its regulatory and operational functions. (3) This need for structural separation had previously been identified in a review of the functions of the WorkCover Authority by the Legislative Council's Standing Committee on Law and Justice. (4)

icare's functions under the Act included:
(a) acting for the Nominal Insurer in accordance with Workers Compensation Act 1987 (Act No.70, 1987),
(b) providing services for any relevant authority, or for any other person or body, in relation to any insurance or compensation scheme administered or provided by the relevant authority or that other person or body,
(c) entering into agreements or arrangements with any person or body for the purposes of providing services of any kind or for the purposes of exercising the functions of the Nominal Insurer, and
(d) monitoring the performance of the insurance or compensation schemes in respect of which it provided services. (5)

Relevant authorities included the Workers Compensation (Dust Diseases) Authority, the Lifetime Care and Support Authority, the Sporting Injuries Compensation Authority and the NSW Self Insurance Corporation. (6)

icare was governed by an independent board of directors, which included the Chief Executive and up to eight non-executive directors. (7)

On 2 April 2019, icare was transferred to Treasury when the Department of Finance, Services and Innovation was abolished. (8)

In 2022, icare had eight business units to the exercise of the functions of icare. These units were:
- Workers Compensation
- Insurance for NSW and Home Building Compensation Fund
- Lifetime Schemes (consisting of Lifetime Care, Dust Diseases Care, CTP Care and Workers Care)
- Organisational Performance
- Digital and Technology
- People and Culture
- Risk and Governance
- Strategy and Office of the CEO. (9)

icare NSW provided services in 2022 to the following NSW insurance and care schemes: Workers Compensation Nominal Insurer (Workers Compensation); NSW Self Insurance Corporation including The Treasury Managed Fund (TMF) and the Construction Risk Insurance Fund (CRIF); Home Building Compensation Fund; Sporting Injuries Compensation Authority; Dust Diseases Care and Lifetime Care. (10)

Endnotes
1. State Insurance and Care Governance Act 2015 (Act No.19, 2015), s.4. 2. WorkCover NSW, About us http://www.workcover.nsw.gov.au/about-us/about-workcover (accessed 9 December 2015).
3. Media Release: '$1bn Insurance Reform Package Puts the Customer at the Centre', Minister for Finance, Services and Property, 4 August 2015 http://www.maa.nsw.gov.au/__data/assets/pdf_file/0020/30377/20150804-Med-Rel-Insurance-Reform.pdf (accessed 9 December 2015).
4. NSW Legislative Council - Standing Committee on Law and Justice, Review of the exercise of the functions of the WorkCover Authority, 17 September 2014, http://www.parliament.nsw.gov.au/prod/parlment/committee.nsf/0/b1ca15445d2e3779ca257d560003d91b/$FILE/Final%20Report%20-%20Report%20No.%2054%20-%2017%20September.pdf (accessed 9 December 2015).
5. State Insurance and Care Governance Act 2015 (Act No.19, 2015), s.10 (1).
6. Ibid., s.10(2).
7. Ibid., s.5.
8. Administrative Arrangements (Administrative Changes—Public Service Agencies) Order 2019 , sch. 7, NSW legislation website, 2 April 2019
9. Insurance and Care NSW, icare Agency Information Guide 2022-2023, p.7.
10. Ibid., p.10.