Other managed funds
Insurance for NSW manages a number of other funds on behalf of the NSW Government.
Pre-Managed Fund Reserve (PMF)
The PMF holds reserves previously held in the Fire Risks Account, the Fidelity Fund and the Public Liability Fund. It has been used to fund claims incurred by the NSW Government before 1 July 1989.
Governmental Workers Compensation Account (GWC)
The GWC pays the outstanding workers compensation claims liabilities that pre-date the Treasury Managed Fund.
Transport Accidents Compensation Fund (TAC)
The TAC pays for motor transport accident claims under the common law system which applied until 30 June 1987 and TransCover system claims costs from then until 30 June 1989. The Motor Accidents Scheme replaced TransCover from 1 July 1989.
Residual Workers Compensation Liabilities of the Crown (SRA/RIC)
Residual workers compensation liabilities include those from the former State Rail Authority of NSW (SRA) and Rail Infrastructure Corporation (RIC).
The liabilities of RIC were transferred to the Crown Finance Entity of the Transport Administration Act 1988 (TAA) which took effect from 1 October 2008.
The former Self Insurance Corporation was appointed the claims manager for these liabilities.
