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Workers compensation scheme in NSW faces financial crisis, Treasury briefing confirms – ABC News

NSW Treasury holds significant concerns that the country’s largest workers compensation scheme is heading for a financial disaster, secret documents reveal.

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NSW Treasury holds significant concerns that the country’s largest workers compensation scheme is heading for a financial disaster, secret documents reveal.
Key points:

  • iCare reported a $2 billion loss for the nine months to March 2020 and its funding ratio is below the 100 per cent needed to guarantee claims can be paid out
  • Businesses are concerned the state-owned insurer will be forced to raise workers’ compensation insurance premiums to fund the shortfall
  • The NSW Op…

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