About icare
icare provides insurance and support for businesses, people and communities in NSW. When someone is injured at work or in a serious motor vehicle accident on the road, icare helps with their ongoing care so they can recover and get back to work and life.
We provide workers compensation insurance to more than 338,000 employers in NSW. This covers almost 4 million employees.
icare also manages the Workers Compensation Nominal Insurer, known as Workers Insurance. It is the largest workers compensation insurer in NSW.
Our structure
icare was created in September 2015 under the State Insurance and Care Governance Act
This law also created two other agencies to help deliver a simple, fair and safe workers compensation system in NSW:
- State Insurance Regulatory Authority (SIRA). They oversee the insurance industry.
- SafeWork NSW. They are an independent regulator for workplace health and safety.
Our history
icare was created in 2015 when WorkCover NSW was replaced by three new agencies: SafeWork, icare and SIRA. WorkCover NSW no longer exists. Its previous responsibilities are now shared between three organisations:
- icare: Provides workers compensation insurance to employers in NSW. icare contracts Claims Service Providers (CSPs) to manage employer claims.
- SafeWork NSW: Regulates workplace health and safety in NSW.
- SIRA: Regulates the workers compensation scheme.
Our insurance and care schemes
Workers Insurance
icare is a NSW Government agency that provides insurance and care services to statutory authorities and people with injuries under various compensation schemes. This includes the Workers Compensation Nominal Insurer, providing workers compensation to more than 326,000 employers and 3.6 million workers in NSW.
icare workers insurance acts for the Workers Compensation Nominal Insurer and engages insurers EML, Allianz, GIO, Gallagher Bassett and QBE to manage workers compensation claims on its behalf.
We also act on behalf of the Sporting Injuries Compensation Authority, which provides benefits for people seriously injured playing sport through a no-fault scheme.
This includes all authorised sporting activities in NSW schools, as well as sports organisations that have sporting insurance cover through icare.
Although all employers are required to hold a valid workers compensation insurance policy, should an employer not have a valid policy in place, an injured worker can still make a claim through the Uninsured Liability Scheme.
Dust Diseases Care
The Workers Compensation (Dust Diseases) Authority provides compensation, treatment and care for workers with a dust disease and their dependants. We provide services to the Workers Compensation (Dust Diseases) Authority through icare Dust Diseases Care.
Insurance for NSW
Insurance for NSW (formerly icare self insurance) represents a statutory body that operates a number of NSW Government managed funds.
As the authorised delegate, we manage the Treasury Managed Fund (TMF), which provides workers compensation cover (as well as cover for other liabilities, costs and expenses) for most public sector employers.
Self-insurers
Self-insurers are employers approved by SIRA to manage their own workers compensation claims.
A self-insurer employer can manage and administer their own workers' compensation claims, instead of obtaining a workers' compensation policy from icare.
A self-insurer is responsible for:
- the direct ownership and management of workplace and workers compensation risks
- the experience and outcomes for injured workers
- workforce relationships
Employers need to obtain a self-insurer licence from SIRA to become a self-insurer.
Specialised insurers
Specialised insurers are licensed by SIRA to provide workers compensation insurance cover and manage workers compensation claims and liabilities for employers in a specific industry.
Regardless of which type of insurer is involved, all have an obligation to support your patient in their recovery and return to work, as well as managing claims to ensure they receive the correct entitlements.
Learn more about your role in the system
How we serve NSW
icare is committed to providing insurance and care to the businesses, people and communities of NSW. We focus on fair, respectful and empathetic support that is about the person, not the process.
What is Workers Compensation and do I need it?
Workers compensation insurance supports workers who are injured at work. It helps pay for weekly wages, medical treatment, hospital costs and other benefits that support their recovery and return to work.
Workers compensation insurance is a no-fault system. To get support, an employee doesn't have to prove their employer did something wrong. They only need to show the injury is work-related and that work was a major cause.
Most employers in NSW must have a workers compensation policy. This helps workers get support if they are injured at work and protects employers from the cost of these claims.
Do I need Workers Compensation Insurance?
How much will it cost me?
The Workers Compensation Industry Classification (WIC) System helps to set the cost of a business's workers compensation insurance.
The WIC applied to an employer's policy relates to how their primary business is classified. A WIC code looks at both an industry and its risk profile. Higher risk industries typically have a higher number of injuries and therefore attract higher premiums. Lower risk industries, conversely, attract lower premiums .
How is my premium calculated?
Example: Rick’s Restaurant
Annual wages: $1,000,000
WIC rate for cafes and restaurants: 2.25 percent
$1,000,000 × 2.25 percent = $22,500 (Average Performance Premium, APP)
This excludes other fees, discounts or charges.
Discounts: As a small business, you may get a 5 per cent discount if you pay your premium in full by the due date, provided your premium meets the minimum threshold of $240.
Your journey through Workers Compensation
Your workers compensation process usually involves:
- Realising you need Workers Compensation insurance
- Getting a quote and setting up a policy
- Receiving your policy documents
- Estimate your wages for the next policy period
- Receiving your renewal notice
- Declaring your actual wages
- Paying your premium
Helpful resources
When starting a business, there are many things to consider. Service NSW can help you make sure you have covered everything: