AGY-6833 | State Insurance Regulatory Authority

Full description

The State Insurance Regulatory Authority (SIRA) was established on 1 September 2015 under the State Insurance and Care Governance Act 2015 (Act No.19, 2015). (1)

SIRA was one of three organisations constituted under the Act to assume the regulatory and insurance functions of WorkCover NSW, Insurance and Care NSW (icare) and WorkSafe NSW. (2) SIRA also assumed the functions of the former Motor Accidents Authority and the Home Building Compensation Regulation functions from NSW Fair Trading. It was a division of the Department of Finance, Services and Innovation. (3)

Under the State Insurance and Care Governance Act 2015, SIRA's principal objectives were:
(a) to promote the efficiency and viability of the insurance and compensation schemes established under the workers compensation and motor accidents legislation and the other Acts under which SIRA exercises functions,
(b) to minimise the cost to the community of workplace injuries and injuries arising from motor accidents and to minimise the risks associated with such injuries,
(c) to promote workplace injury prevention, effective injury management and return to work measures and programs,
(d) to ensure that persons injured in the workplace or in motor accidents have access to treatment that will assist with their recovery,
(e) to provide for the effective supervision of claims handling and disputes under the workers compensation and motor accidents legislation,
(f) to promote compliance with the workers compensation and motor accidents legislation. (4)

SIRA was governed by a board comprising its chief executive, the Secretary of the Department of Finance, Services and Innovation and up to three other members appointed by the Minister. (5) Starting 1 December 2017, the Motor Accident Injuries Act 2017 was passed by NSW Parliament to establish a new CTP scheme administered by SIRA. (6)

The Department of Finance, Services and Innovation was abolished on 1 July 2019 and SIRA was transferred to the new Department of Customer Service. (7)

Endnotes
1. State Insurance and Care Governance Act 2015, s.17 (1).
2. WorkCover NSW, About us http://www.workcover.nsw.gov.au/about-us/about-workcover (accessed 9 December 2015).
3. State Insurance Regulatory Authority, home page http://www.sira.nsw.gov.au (accessed 11 December 2015).
4. State Insurance and Care Governance Act 2015, s.23.
5. Ibid., s.18.
6. State Insurance Regulatory Authority, Annual Report 2016-2017, p.28.
7. Administrative Arrangements (Administrative Changes—Public Service Agencies) Order 2019 (2019 No 159), cl. 7; NSW Legislation Website, 2 April 2019.