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The Workers Compensation Amendment (Insurance Reform) Act 2003 provides for a new legal and management framework for the NSW WorkCover Scheme.
Previously, six insurers provided claims and policy services to NSW workers and employers under open-ended licences. Now, WorkCover engages seven service providers via commercial contracts to manage claims and policy services. These service providers act as Agents responsible to a new insurance entity, trading as the NSW WorkCover Scheme.
Agents are required to meet the terms and conditions of their contracts, as well as their legislative obligations.
WorkCover acts for and exercises the powers of the NSW WorkCover Scheme, and will manage these contracts on behalf of the NSW WorkCover Scheme.
Self and specialised insurers and their workers are not affected by this change.
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