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

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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.

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. 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.

 

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Get JodiMcKayMP in there to sort this out. The LNP cannot be trusted. koalakiller

Are we being told, in a roundabout way, there has been criminal activity (siphoning of funds)?

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