NSW shuts out specialised workers compensation insurers

Wednesday, 26 March, 2008

The NSW government has announced that the state’s workers compensation system is now closed to any specialised workers compensation insurers.

NSW Industrial Relations Minister John Della Bosca said he had accepted a recommendation from the WorkCover Board to prevent new entrants.

“Prohibiting the entry of new specialised insurers will reinforce the recent achievements in stabilising and enhancing the NSW workers compensation system, by ensuring that it maintains a size and industry mix that helps to provide stable and affordable premiums,” he said.

“The WorkCover Board believed permitting the entry of new specialised workers compensation insurers would effectively involve the private underwriting of a significant section of the workers compensation scheme.

“This would not be in keeping with the November 2007 announcement that the NSW workers compensation scheme would not be privately underwritten.”

The decision was made effective immediately.

Related News

Qld Govt commits $5m to fund dust lung disease research

The Queensland Government will invest $5 million in research to protect workers from occupational...

Victoria toughens dangerous goods regulations

From 1 July, Victorian duty holders storing or handling dangerous goods will have to follow new...

SafeWork SA prioritises asbestos licence compliance

SafeWork SA has commenced a compliance audit of licensed asbestos removal jobs, to ensure...

  • All content Copyright © 2021 Westwick-Farrow Pty Ltd