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Australia State-run insurance fund icare NSW in need of $4 billion bailout

17:56  01 august  2020
17:56  01 august  2020 Source:   skynews.com.au

State-run insurance fund icare NSW in need of $4 billion bailout

  State-run insurance fund icare NSW in need of $4 billion bailout The NSW Opposition is calling on icare NSW's leadership team to resign after Treasury warned a $4 billion injection was needed to keep the state-run insurance fund afloat. © Provided by Sky News Australia It is the second time in as many years the government has been asked to top up the Treasury managed fund. The organisation claims events such as the bushfires, account for the some of blowout, however financial experts say the reason for the rest of the shortfall is a mystery.

NSW Treasury officials have warned $ 4 billion needs to be injected this year into the workers' compensation insurance fund for police employees Icare will front State Parliament on Monday and, in response to some pre-hearing questions, it said Treasury had provided billion in funding in

Who needs workers insurance child pages. icare Dust Diseases Care compensates and supports workers who have developed a dust disease from occupational exposure in NSW . 3 billion of the State 's assets covered. icare Insurance for NSW is the largest public sector self-insurer in Australia.

State-run insurance fund icare NSW in need of $4 billion bailout
  State-run insurance fund icare NSW in need of $4 billion bailout Sky News Australia See more videos
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The NSW Opposition is calling on icare NSW's leadership team to resign after Treasury warned a $4 billion injection was needed to keep the state-run insurance fund afloat.

Australia's biggest workers compensation system faces looming financial disaster

  Australia's biggest workers compensation system faces looming financial disaster An investigation into Australia's workers compensation system reveals how "immoral and unethical" practices are leaving many workers sicker than when they entered the system.A joint Four Corners investigation with The Age and Sydney Morning Herald has found the schemes in Victoria and NSW are facing significant financial troubles.

Within days of its start, its money ran out , prompting Congress to approve an additional 0 billion in funding that will open for applications on Monday. For small business owners shut out of the program, watching big companies collect loans while their applications languish has been infuriating.

The billion airline bailout passed by the Senate will help keep the airlines alive, but it won't solve the industry's most severe crisis in its history.

a pink blanket © Provided by Sky News Australia

It is the second time in as many years the government has been asked to top up the Treasury managed fund.

The organisation claims events such as the bushfires, account for the some of blowout, however financial experts say the reason for the rest of the shortfall is a mystery.

The organisation covers 335,000 public sector workers including police, nurses and teachers and protects more than $228 billion of the state's assets.

NSW Labor Leader Jodi McKay is demanding answers.

Spahn wants corona compulsory tests to be paid for by statutory health insurers .
Berlin. Federal Minister of Health Jens Spahn wants the mandatory corona tests for returning travelers to be paid for by the statutory health insurance companies. According to a media report, the money for this should come from the health fund's liquidity reserve. © TOBIAS SCHWARZ Minister of Health Jens Spahn. According to , "Spiegel" reports that is in a draft for the minister's planned ordinance.

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