Our Board

Meet icare's Board of Directors

The Board is accountable to the Hon. Damien Tudehope, NSW Minister for Finance and Minister for Employee Relations.

The Board is a governing Board and all decisions relating to the functions of icare are to be made by or under the authority of the Board, including the appointment of the CEO. The CEO is a Director of the Board as well as Chief Executive of each Authority. The Board has ultimate authority over icare's management and has delegated the day to day operations of the organisation to the CEO. The Board has delegated certain functions and responsibilities to its Committees as well as the CEO to assist in the oversight of the organisation and discharge of its responsibilities.

In addition to appointing the Board, the Minister along with the Treasurer approves icare's annual Statement of Corporate Intent. The Minister may also give the Board written direction if it is in the public interest to do so after consulting with the Board.

The Board, consisting of eight Non-Executive Directors and the Chief Executive Officer, was appointed by the Minister under the State Insurance and Care Governance Act 2015.

The Non-Executive Directors are highly skilled and bring extensive experience to icare including insurance, customer experience, transformation, financial and investment management, healthcare, disability and care services, technology/digital and strategy.

As a governing Board, the objectives of the Board are to provide leadership and to determine and monitor:

  • the strategic direction, organisational objectives including the progress and performance of their implementation
  • the policy framework and icare's general policies, providing direction to the CEO and governing the organisation's operations.
The Board has established five committees to assist it with its oversight and governance responsibilities. The Investment and Asset Committee, People and Remuneration Committee, Technology and Data Strategy Committee, the Board Audit Committee and the Board Risk Committee, each chaired by a Non-Executive Director of the Board.

The Board and its Committees have established charters that outline their responsibilities as required by NSW Treasury's Commercial Policy Framework and the NSW Government's Guidelines for Boards and Committees.

Meet icare's Board of Directors

    Board communiqués

  • October 2022

    The Board received the icare Work Health and Safety (WHS) Report, CEO report, and the CRO Report, which provided updates from management on relevant matters.

    The Board received a progress update from management on the Enterprise Improvement Program and the Nominal Insurer Improvement Program.

    The Board approved the FY23-32 Half Year Budget Review, the Workers Compensation Insurance Fund Investment Strategy Review and the Dust Diseases Authority Fund Investment Strategy Review.

    The Board approved the State Insurance Regulatory Authority’s Customer Service Conduct Principles Attestation Form.

    The Board received an update on the Nominal Insurer RFP and Claims Model.

    The Board also received the Quarterly Customer Advocate report and an update on the delivery of the Professional Standards Framework and Capability Strategy.

    The Board received an update on the key discussions that took place at the relevant Board Sub-Committee during October, being the Investment and Asset Committee.

    The Board noted the Governance Report and the Credit and Counterparty Risk Policy.

  • September 2022

    The Board received the icare Work Health and Safety (WHS) Report, CEO report, and the CRO Report, which provided updates from management on relevant matters.

    The Board received a progress update from management on the Enterprise Improvement Program and the Nominal Insurer Improvement Program.

    The Board approved the FY22 Audited Financial Statements, and the Australian Accounting Standards Board 17 (AASB) Business Case. The Board noted the Financial Condition Report.

    The Board approved the Nominal Insurer Business Plan, Home Building Compensation Fund Business Plan and Lifetime Care and Compulsory Third Party Care levies.

    The Board received the Nominal Insurer RFP and Claims Model update and approved the selection of six Claims and Injury Management Service Providers to manage claims.

    The Board held a joint session with the State Insurance Regulatory Authority (SIRA) Board, which included updates from both the icare CEO and SIRA CEO. The Board and the SIRA Board additionally held a discussion without management being present.

    The Board approved the revised Data Migration Program and the revised Brand Architecture. The Board endorsed the Annual Report Update.

    The Board received an update on the key discussions that took place at the relevant Board Sub-Committees during September, being the Board Audit Committee and Board Risk Committee.

    The Board noted the Governance Report.

  • August 2022

    The Board received the icare Work Health and Safety (WHS) Report, CEO report, CRO Report and the Quarterly Regulatory Report, which provided updates from management on relevant matters.

    The Board received a progress update from management on the Enterprise Improvement Program and the Nominal Insurer Improvement Program.

    The Board approved the updated FY23 Scorecards, People and Culture Strategy, Internal Audit and Risk Management Attestation and NSW Cyber Security Policy Attestation.

    The Board also approved the Procurement Policy, Pricing Policy and the updated business case for the Nominal Insurer Core Platform Uplift Program.

    The Board noted and discussed the enterprise employee engagement survey (act2engage) results, the Draft Nominal Insurer Business Plan and the Draft Home Building Compensation Fund Business Plan.

    The Board received an update on the key discussions that took place at the relevant Board Sub-Committees during August, being the Technology and Data Strategy Committee, Investment and Asset Committee, People and Remuneration Committee, Board Audit Committee and Board Risk Committee.

    The Board noted the Governance Report, and Guidewire Managed Services Update.

    The Board received a presentation by Professor David Lacey from IDCARE on the trends and key issues in cyber security.

  • July 2022

    The Board received the icare Work Health and Safety (WHS) Report, CEO report, CRO Report and CFO Report, which provided updates from management on relevant matters, including the Insurance Liability Valuation results.

    The Board received a progress update from management on the Enterprise Improvement Program and the Nominal Insurer Improvement Program, including an update from the Independent Assurer, Promontory. The Board also received its monthly update on the progress of the Pre-Injury Average Weekly Earnings Remediation Program.

    The Board approved the Compliance Management Policy.

    The Board undertook two deep dives in relation to the improvements made to measuring better outcomes for those we serve and the actual and perceived fairness in a decision-making process.

    The Board received an update on customer advocacy and also data migration.

    The Board received an update on the key discussions that took place at the relevant Board Sub-Committees during July, being the Board Audit Committee and the Board Risk Committee.

    The Board noted the Governance Report, which includes correspondence between the Responsible Minister and icare, a summary of any circular resolutions and the activities undertaken in accordance with Board delegations in the reporting period.

  • May 2022

    The Board received the icare Work Health and Safety (WHS) Report, CEO report and CRO Report, which provided updates from management on relevant matters, including the quarterly Enterprise Performance Scorecard results.

    The Board received a progress update from management on the Enterprise Improvement Program and the Nominal Insurer Improvement Program, including an update from the Independent Assurer, Promontory. The Board also received its monthly update on the progress of the Pre-Injury Average Weekly Earnings Remediation Program, the final report into the Dust Diseases Care Compensation Remediation Program and the quarterly update on icare's relationship with the regulator.

    The Board approved the FY23 icare and Scheme budgets, the FY23 Business Plan and Statement of Business Intent and the FY23 Enterprise Performance Scorecard.

    The Board also approved the updated Risk Appetite Statement, the FY23 Internal Audit Plan and a number of internal policies.

    The Board undertook a deep dive in relation to the Return to Work Performance Program and received an update in relation to the Innovation and Partnerships team (formerly known as the icare Foundation).

    The Board received an update on the key discussions that took place at the relevant Board Sub-Committees during May, being the Investment and Asset Committee, the People and Remuneration Committee, the Board Audit Committee, the Board Risk Committee and the Technology and Data Strategy Committee. 

  • March 2022

    The Board received the icare Work Health and Safety (WHS) Report, CEO report and CRO Report, which provided updates from management on relevant matters.

    The Board received a progress update from management on the Enterprise Improvement Program (EI) and the Nominal Insurer (NI) Improvement Program, including an update from the Independent Assurer, Promontory. The Board also received its monthly update on the progress of the Pre-Injury Average Weekly Earnings Remediation Program and the Dust Diseases Care Compensation Remediation Program.

    The Board discussed the preliminary FY23-32 budgets for IfNSW & HBCF, the Lifetime Care schemes and the icare service entity, and additionally noted the draft Statement of Business Intent (SBI).

    The Board held a joint session with the State Insurance Regulatory Authority (SIRA) Board, which included updates from both the icare CEO and SIRA CEO. The Board and the SIRA Board additionally held a discussion without management being present. The icare Chair and SIRA Chair noted that it is pleasing to see the continued positive engagement between the icare and SIRA management teams.

    The Board approved the FY2022/23 Reinsurance Management Strategy in respect of its reinsurance program for the Treasury Managed Fund and the Construction Risk Insurance Fund and received an update from management in relation to the Customer Satisfaction metric.

    The Board received a presentation from NSW Treasury representatives related to Climate Risk Management.

    The Board received an update on the key discussions that took place at the relevant Board Sub-Committees during March, being the Investment and Asset Committee and the People and Remuneration Committee.

  • February 2022

    The Board received the icare Work Health and Safety (WHS) Report, CEO report, CRO Report and the Quarterly CFO Report, which provided updates from management on relevant matters.

    The Board received a progress update from management on the Enterprise Improvement Program, including an update from the Independent Assurer, Promontory. The Board also received its monthly update on the progress of the Pre-Injury Average Weekly Earnings Remediation Program and the Dust Diseases Care Compensation Remediation Program and the quarterly update on icare's relationship with the regulator.

    The Board discussed the Insurance Liability Valuation results as appropriate for inclusion in the entity accounts for the Nominal Insurer (NI), Treasury Managed Fund (TMF), Lifetime Care (LTC), Dust Diseases Care (DDC), Home Building Compensation Fund (HBCF), Pre-Managed Fund (PMF) and Motor Accident Injury Treatment and Care Benefits Fund (CTP Care).

    The Board approved the Investment Strategy Review for both the Lifetime Care and Support Authority Fund and the Workers Compensation Insurance Fund. The Board also approved a number of internal policies as part of its annual policy review.

    The Board approved the Lifetime Care and Support Scheme levy, the Motor Accident Injury Treatment and Care Benefits Fund (CTP Care) levy and the Workers Compensation Dust Diseases Authority Contribution for FY2022/23 for submission to the State Insurance Regulatory Authority (SIRA). The Board also approved the NI and HBCF premium filings, to be submitted to SIRA for the policy period commencing 30 June 2022.

    The Board approved the 2021-2026 icare Strategic Procurement Plan and the revised icare Board and Committee Charters as part of the annual Charter review.

    The Board received an update from management on the Quarterly Performance Scorecard Results, the TMF target agency contribution target for FY2022-23 and the NI Claims Service Providers Request for Proposal that is currently underway.

    The Board discussed and noted the 2021 Board Performance Evaluation Results including the actions taken to date to address the feedback received.

    The Minister for Finance and Employee Relations addressed the Board via video conference and discussed with the Board the key issues facing the organisation.

    The Board received an update on the key discussions that took place at the relevant Board Sub-Committees during February, being the Audit and Risk Committee, Investment and Asset Committee and the People and Remuneration Committee.