Icare (insurance) explained

icare is a state-run, insurance corporation. It is owned by the New South Wales Government.

Its primary purpose is to provide workplace injury insurance.

History

It was formed in September 2015 through the commencement of the State Insurance and Care Governance Act

It succeeded the since-abolished WorkCover Authority of New South Wales. This followed a recommendation that WorkCover have its insurance and workplace safety investigation roles separated.

In 2020 a joint investigation by ABC News and The Age found that the organization was losing hundreds of millions of dollars per year, and had serious mismanagement issues.^{[1] [2]}

Governance

Its board is accountable to the Treasurer of NSW, who appoints the board and CEO.^[3]

See also

• WorkCover Authority of New South Wales

Notes and References

1. Web site: 2020-07-27. 'Hit them in the pocket': Disturbing conversation between employer and QBE insurance revealed. 2020-08-10. www.abc.net.au. en-AU.
2. Web site: 2020-07-26. As executive salaries soar, Australia's biggest workers compensation scheme faces financial disaster. 2020-08-10. www.abc.net.au. en-AU.
3. Web site: Best in class Insurance & Care Services for the People of NSW. 2020-08-10. www.icare.nsw.gov.au. en.