From the 1st of September 2015, structural changes to the NSW workers compensation system and related agencies under Safety, Return to Work and Support (SRWS), will result in a faster, simpler, and more engaging experience for workers, employers and other stakeholders. There will be three discrete agencies:
- Insurance & Care NSW (icare)
- State Insurance Regulatory Authority (SIRA)
- SafeWork NSW
Workers Compensation Reforms
The Government election commitment was to review the financial position of the Workers Compensation Scheme. The result of that review is that for every dollar above the minimum surplus to keep the Scheme sustainable, two thirds will be invested in supporting injured workers and getting them back to work. The balance will be returned to business as lower premiums.
The benefit enhancements being introduced are substantial and focus on three simple objectives – helping the most seriously injured workers, assisting those with injuries to return to work, and making sure that all changes to benefits will not compromise the financial sustainability of the Scheme.
The proposed package will enable better return to work outcomes for injured workers who have been out of the workforce for an extended period and provide optimal care for workers with serious injuries. These benefit changes are anticipated to benefit thousands of future and existing injured workers. You can read more about it at www.insurancereforms.nsw.gov.au.
SafeWork NSW is the state’s workplace health and safety regulator. We focus on harm prevention and improving the safety culture in NSW workplaces.
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.
Insurance & Care NSW (icare) is a new organisation created to deliver the State’s insurance and care schemes. It will be a centre of excellence for long-term care needs for people with the most severe injuries (road or workplaces), helping people return to work, and improving quality of life outcomes.