SIRA is a new government organisation responsible for the regulatory functions in relation to workers compensation insurance, motor accidents compulsory third party (CTP) insurance and home building compensation.
SIRA was established in September 2015 as part of the NSW Government’s workers compensation reform package which saw the creation of three new organisations which included icare and SafeWork NSW to replace the insurance and regulatory functions of WorkCover NSW.
The SIRA Board appointments include Chair, Mr Trevor Matthews, who is a long time insurance industry professional with extensive experience both in Australia and overseas; Deputy Chair, Ms Nancy Milne, OAM a highly credentialed lawyer with experience that includes the insurance and risk management sectors; and three board members, Dr Abby Bloom, an adjunct professor at the Menzies Centre for Health Policy and experienced company director, Dr Graeme Innes AM, nominee of the Secretary of the Department of Finance, Services and Innovation, and Carmel Donnelly, the Acting Chief Executive of SIRA. (media release 23 November 2015)
The Board will be responsible for advising SIRA on establishing a risk based and outcomes focused insurance regulator; approving premium, licensing and policy frameworks for insurance companies; and ensuring effective monitoring of the financial solvency and performance of insurance schemes.
SIRA will focus on ensuring key public policy outcomes are achieved in relation to service delivery to injured people, affordability, and the effective management and sustainability of these insurance schemes.
SIRA Board Member Bios
Chair, Mr Trevor Matthews
Mr Matthews has extensive insurance and financial services experience in Australia, Canada, Japan and the United Kingdom (UK). He was previously with Aviva, most recently as Executive Director and Chairman, Developed Markets and prior to that Chief Executive Officer (CEO) of Aviva UK. Trevor has also held the position of CEO with Friends Provident and Standard Life, both based in the UK, as well as Manulife Financial in Japan. He has also held senior roles with National Australia Bank and Legal & General in Australia.
Mr Matthews is a non-executive director of AMP Limited, Bupa Australia and New Zealand Group, Tokio Marine Asia, Cover-More Limited, FNZ Asia Pacific Group and Chairman of 1stAvailable Limited. Mr Matthews has a Master of Arts (Actuarial Studies) from Macquarie University, and is a Fellow of the Institute of Actuaries in both Australia and the UK.
Deputy Chair, Ms Nancy Milne, OAM
Ms Milne is a former lawyer with over 30 years’ experience primarily in insurance and reinsurance, risk management, corporate governance and professional negligence. She was a partner with Clayton Utz until 2003 and a consultant until 2012. In 2008 she was awarded the Order of Australia Medal for services to the legal sector particularly as an insurance lawyer and to the community.
She is currently a director of ALE Property Group, Greenstone Limited, and the Superannuation Administration Corporation (Pillar Administration), and a former director of the Australand Group (now Frasers Property Group). Ms Milne has a Bachelor of Law from University of Sydney and is a fellow of the Australian Institute of Company Directors.
Board Member, Dr Abby Bloom
Dr Bloom is an experienced Company Director and former Senior Executive and Corporate Advisor in healthcare and health financing, water and sanitation, and ageing. She is a graduate of Yale and Sydney universities, and is currently Adjunct Professor, Sydney Medical School, Menzies Centre for Health Policy.
Dr Bloom is currently a director of Sydney Water Corporation, and a member of the NSW Ministerial Advisory Committee on Ageing, Griffith University Enterprise Advisory Board, and the Risk and Audit Committee of the NSW Department of Family and Community Services. Her previous directorships include Western Sydney Local Health District.
Board Member, Dr Graeme Innes, AM
Dr Innes, has been involved in numerous human rights reform initiatives that have resulted in ground breaking change, perhaps most significantly as the Human Rights Commissioner for Australia. He was awarded an AM in 1995.
He was involved in drafting the United Nations Convention to the Rights of Persons with Disabilities, and has also served as Australia’s Race Discrimination Commissioner.
Dr Innes was Chair of the Disability Advisory Council of Australia, and the first Chair of Australia's national blindness agency, Vision Australia.
He also played a key role in developing the National Disability Strategy and the Disability (Access to Premises – buildings) Standards 2010 and to the establishment of Liveable Housing Australia.
In 1995, Graeme was entered into of the Order of Australia as a Member (AM) for his contribution to the rights of people with a disability in Australia.
In 2003, he was a finalist for Australian of the Year. In 2015, he was awarded an honorary doctorate from the University of Canberra and appointed as an adjunct professor at the University of Sydney.
Acting Chief Executive of SIRA, Carmel Donnelly
In January 2016, Carmel began leading regulation of workers compensation and the home building compensation in NSW. Carmel is committed to improving health, social and economic outcomes as a risk-based, evidence informed regulator.
Carmel’s previous roles include General Manager and Deputy General Manager at the Motor Accidents Authority of NSW and Director Strategy and Planning with Fire and Rescue NSW. She has also been a Review Director in the NSW Department of Premier and Cabinet and an Associate Director in NSW Health.
Carmel holds a Bachelor of Arts with Honours in Psychology, a Master of Public Health and an Executive Master of Business Administration from the Australian Graduate School of Management. She is a Graduate Member of the Australian Institute of Company Directors and an Associate Fellow of the Australasian College of Health Service Management.
Please visit the State Insurance Regulatory Authority's website at www.sira.nsw.gov.au for more information.