In November 2023, the Minister for Work Health and Safety (the minister) instructed NSW Treasury to conduct an operational expenditure review of icare.
NSW Treasury has conducted a high-level review of the efficiency, effectiveness and appropriateness of icare’s operational expenditure. The review focuses on icare’s net cost of services (NCOS) – those controllable business costs incurred by icare to deliver its different insurance and care schemes on behalf of the community and government. icare’s underlying commercial model and overall net expenses (including claims handling expenses incurred by its insurance and care schemes) were beyond the scope of this review.
