Our story

We’re changing the way people think about insurance and care.

At icare, we deliver world-class insurance and care services to the businesses, people and communities of NSW.

Whether a person is severely injured in the workplace or on our roads, icare supports their long-term care needs to improve quality of life, including helping people return to work.

We also insure more than 296,000 NSW employers and their 3.7 million employees. With more than $33 billion in assets, we are one of the largest insurance providers in Australia.

We’re made up of six schemes that are committed to delivering better cover, treatment and care to the people of NSW.

We are passionate about changing people's lives by being there for them when they need us most. Our aspiration is to create the best possible outcome for every person and organisation we serve, delivered through a fair, respectful and empathetic experience that is focused on the person not the process.

Our Business

  • 3.7 million workers protected across more than 296,000 NSW businesses. icare workers insurance administers the Nominal Insurer, a private sector insurer responsible for providing workers compensation insurance to any NSW employer. It is the single largest workers compensation insurer in NSW with a 70% market share.
  • $1.9 billion in benefits, medical expenses and return-to-work solutions paid to injured workers. icare workers insurance and icare Insurance for NSW ensure that every person who is injured at work is given the treatment, support and care they need to sustainably return to work and their community.
  • $184 billion of the State's assets covered. icare Insurance for NSW is the largest public sector self-insurer in Australia. It administers a number of managed funds for NSW government agencies and their employees.
  • $127.4 million in treatment, rehabilitation and care services for lifetime care participants. icare lifetime care provides treatment, rehabilitation and care for people who are severely injured in motor accidents in NSW, regardless of who was at fault.
  • $75.7 million in benefits paid to people with work-related dust disease. icare dust diseases care provides compensation for people with work-related dust diseases and their dependents, as well as ongoing assistance to support their quality of life.
  • $16.8 billion in residential projects insured. icare hbcf provides a safety net for homeowners if building contractors are unable to honour their commitments due to insolvency, death or suspension of license.

Our schemes

  • icare dust diseases care: Providing treatment and compensation for injured workers with a dust disease
  • icare hbcf: Providing a safety net for homeowners through the Home Building Compensation Fund
  • icare lifetime care: Providing treatment and care for people who are severely injured in a NSW motor accident through the Lifetime Care and Support Scheme
  • icare Insurance for NSW: Providing self insurance to NSW Government Agencies through the Treasury Managed Fund (state’s self insurance fund) and other managed funds
  • icare workers insurance: Providing workers insurance cover to 284,000 employers and 3.4 million employees
  • icare sports insurance: Providing no-fault cover to sporting groups under the NSW Sporting Injuries Insurance Scheme

Our structure

icare was formed in September 2015 through the commencement of the State Insurance and Care Governance Act.

This Act also enabled the creation of two other government organisations to promote a simple, efficient and engaging experience for the people of NSW:

  • State Insurance Regulatory Authority (SIRA): an independent insurance regulator
  • SafeWork NSW: an independent workplace safety regulator

The separation of these insurance functions was recommended through reviews and inquiries to resolve the inherent conflict between regulatory and service delivery functions and created a clear distinction between regulation and operations.

icare operates as a Public Financial Corporation governed by an independent Board of Directors that delivers insurance and care services to the people of New South Wales.

Our Board is directly accountable to the Hon. Dominic Perrottet MP, NSW Treasurer. The Treasurer appoints the Board, who in turn appoints the Chief Executive Officer and employs all our people.

Our commitment

We’re committed to building a culture of inclusion and diversity of thought.

Our Inclusion & Diversity Strategy 2017-2019 outlines our principles based approach and is supported by detailed plans, including our Disability Inclusion Action Plan and Multicultural plan, that challenge us to consider inclusion and diversity in everything we do.