Our story

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

At icare, we deliver best in 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 provide workers compensation insurance to more than 326,000 public and private sector employers in NSW and their 3.6 million employees.

In addition, we insure builders and homeowners, provide treatment and care to people severely injured on NSW roads; and protect more than $193 billion of NSW Government assets, including the Sydney Opera House, the Sydney Harbour Bridge, schools and hospitals. 

Who is icare?

Our schemes

We operate and provide services for the NSW Government's insurance and care schemes, which include: 

  • icare Workers Insurance provides workers compensation insurance to more than 326,000 employers in NSW and their 3.2 million employees.
  • icare Lifetime Care provides treatment and care to more than 1,300 people who have been severely injured on NSW roads.
  • icare Dust Diseases Care compensates and supports workers who have developed a dust disease from occupational exposure in NSW.
  • icare Home Building Compensation Fund helps homeowners to rectify incomplete or defective works done by a builder or tradesperson.
  • icare Insurance for NSW provides workers compensation insurance to 193 public sector agencies and their 329,000 workers and 82,000 volunteers across NSW. We also protect more than $193 billion of the state's assets, including the iconic Sydney Opera House and Sydney Harbour Bridge, as well as critical government infrastructure like schools and hospitals.
  • icare sporting injuries insurance provides cover for registered players and officials of sporting organisations that have insurance cover through icare sporting injuries insurance scheme.

Our business

  • Over 3.6 million workers protected across more than 326,000 NSW businesses. icare acts for and provides services to the Workers Compensation Nominal Insurer (Workers Insurance). It is the single largest workers compensation insurer in NSW.
  • $193 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.
  • Over 1,300 Lifetime Care participants receiving treatment, rehabilitation and care services. Lifetime Care provides care for people who are severely injured in motor accidents in NSW, regardless of who was at fault.
  • $11 million was returned to state budget from the Construction Risk Insurance Fund (CRIF) through effective management of liabilities. CRIF is a part of Insurance for NSW, providing construction insurance for infrastructure projects on behalf of the NSW Government and its partners. 
  • $84.65 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 dependants, as well as ongoing assistance to support their quality of life.
  • $53.8 million in Home Building Compensation Funds (HBCF) paid. 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 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.