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apple developer:Australia's biggest workers compensation scheme faces looming financial disaster


Single mother Chris Iliopoulos was injured at work while moving furniture.(Supplied: The Age)ShareFacebookTwitterArticle share optionsShare this onFacebookTwitterLinkedInSend this byEmailMessengerCopy linkWhatsAppPrint contentPrint with images and other mediaPrint text onlyPrintCancelAn investigation into Australia's $60 billion workers compensation system has revealed the two biggest schemes are losing hundreds of millions of dollars a year in what has been described as "immoral and unethical practices" by an industry ombudsman.Key points:Australia's two largest workers compensation schemes are losing hundreds of millions of dollars each yearDespite an underpayment scandal and deteriorating finances, salaries for top executives at the NSW workers compensation scheme have soaredThe Victorian ombudsman describes the behaviour of some insurers as "downright immoral and unethical." 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.The investigation has heard claims of insurance agents gaming the system for financial incentives and it reveals concerns that an underpayment scandal at the country's biggest provider, icare, could cost up to $80 million,

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