The head of the state’s insurance regulator has quit his post after being “absent from duty” for several months.
The chief executive of icare,Richard Harding,will leave his $1 million-plus role as the agency has been ordered to rein in its ballooning expenses.
The compensation payments for all frontline NSW workers topped $1 billion last year,as claim numbers soared on the back of the COVID pandemic.
NSW Labor has ordered a sweeping review into icare,the state’s big spending state insurer.
The former ACCC chair,sport administrator and investment banker spoke dismissively of the sector in his submission into a parliamentary inquiry on consulting.
The state’s scandal-plagued insurer will slug some businesses with premium increases well above its 8 per cent average target.
The embattled workers’ compensation insurer icare will need a top-up of more than $660 million this financial year to ensure it can continue to pay injured public servants.
The parlous financial state of embattled workers’ compensation insurer icare is so severe it has been slapped with a formal ministerial directive to cap urgently needed premium increases.
The scandal-plagued state insurer has made a plea to slug 330,000 employers with a premium increase of 22 per cent,equivalent to hundreds of millions of dollars.
The prime minister’s office is playing grinch. Won’t someone think of the poor press gallery?
The icare crisis deepens as a document reveals the workers’ compensation scheme has deteriorated to the point where it is “under threat”.