Special conditions imposed on the Racing NSW workers compensation insurance licence

20 June 2022

Special conditions have been imposed on Racing NSW’s workers compensation insurance licence in response to the findings of a performance audit.

SIRA commenced the audit in late 2021 using its powers under section 202A of the Workers Compensation Act 1987.

The focus of the audit was on claims management and compliance with the workers compensation legislation and SIRA’s Standards of Practice.

Issues were found with Racing NSW’s claims handling practices and records management.

In response, the following special conditions have been placed on Racing NSW’s workers compensation insurer licence under section 181 of the Workers Compensation Act 1987:

• The licensee must develop a Corrective Action Plan to improve claims management compliance and implement SIRA’s Standards of Practice and submit to SIRA for review and approval by 20 May 2022.
• The licensee must implement the Corrective Action Plan as approved by SIRA in accordance with the timescales in that Plan and provide SIRA with a monthly update on the implementation of that Plan within 10 business days of the end of each month until the finalisation of the Plan.
• The licensee must develop and implement a quality assurance program to monitor the effectiveness of its Corrective Action Plan and claims management compliance and performance. The licensee must provide SIRA with the monthly reports of the quality assurance program results within 10 business days from the end of each month until advised otherwise by SIRA.
• Racing NSW must implement a plan to improve their records management system which ensures appropriate and central recording of all claims management activities in accordance with legislative requirements and to the commercial standards acceptable to SIRA. That plan must be provided to SIRA by 20 May 2022.

Racing NSW has submitted a Corrective Action Plan in line with the special licence conditions.

SIRA is closely supervising Racing NSW’s performance and compliance with the licence conditions.