From Monday 1 June 2026, the State Insurance Regulatory Authority (SIRA) will be conducting a review of all businesses in NSW who may need a workers compensation policy. Any business identified as not having a current workers compensation policy (when it should), could be liable to pay double the amount of policy premium for the last five years.

The NSW Government uses a variety of sources to identify businesses that may be paying wages, which means you need a workers compensation policy.

You need to ensure you are aware of your workers compensation requirements and if needed, have a current policy by Monday 1 June 2026.

 

Do you need a workers’ compensation insurance policy?

Answer YES to ONE or more of the following checklist points and you need to hold a workers compensation insurance policy.

  • you are a NSW based employer paying $7500 or more in annual wages
  • you make payments to a working director (including fees, wages, salary, allowance, fringe benefits, superannuation etc)
  • you are located outside of NSW but have employees or working directors that work within NSW, including work from home arrangements
  • you employ an apprentice or trainee, regardless of the amount paid in wages
  • you have contractors who are ‘deemed workers’ for the purpose of NSW workers compensation
  • you are part of a group (e.g. a parent company with one or more subsidiary companies)
  • you employ immediate or extended family members
  • your ABN withholds income tax for employees

 

What do you need to do?

  • If you do not have a current policy, you will need to purchase a policy by contacting icare on 13 44 22 or visit icare’s website

OR

  • If you have an existing policy,  you will need to ensure that the policy details are up to date and accurate. This includes reviewing declared employee numbers, wages paid and industry classification. Contact icare on 134422 if your policy details need to be updated.

OR

  • If you have a current policy under a different ABN, you will need to purchase a policy under the ABN of the entity that pays wages or subcontractors. Contact icare on 13 44 22 or visit icare’s website.

If you are still unsure if you need a NSW workers compensation policy, contact SIRA on 13 74 72 or call Hales Douglass on (02)44553333 for more information.

Note: Public liability or business insurance packs do not cover workers compensation.