The NSW workers’ compensation regulator says it has imposed additional licensing conditions on Catholic Church Insurance (CCI) and will continue to monitor its assets and staffing levels following its decision to cease offering cover.

The State Insurance Regulatory Authority (SIRA) says it has responded to ensure policyholders and workers continue to be protected through appropriate workers’ compensation provisions.

“SIRA has taken steps to ensure that employers and workers are not disadvantaged or unduly affected, including imposing additional licensing conditions on CCI and closely monitoring its transition activities,” CEO Adam Dent said.

“We have proactively reached out to existing policyholders to make sure that they have all the necessary information to continue meeting their obligations under the workers compensation scheme.”

CCI said last month that it would cease offering workers’ compensation insurance on June 29. The announcement was made ahead of the insurer confirming that it would place the entire organisation into run-off after it was unable to secure sufficient capital contributions from shareholders.

SIRA has emailed 419 identified policyholders to inform them of how and where they can obtain an alternative workers' compensation insurance policy. 

Alternative policies may be obtained from the Nominal Insurer, icare, or Trinity Insurance, which has been granted a specialised insurance licence to provide workers’ compensation insurance for the Roman Catholic Church and its religious institutions.

CCI’s workers’ compensation cover extended across the Roman Catholic Church and its religious institutions, including places of worship, healthcare and aged care facilities and schools.

SIRA says identified policyholders were set to receive further correspondence this week to ensure they had the opportunity to take out a policy before Thursday.