SICorp's main functions are:
• the administration of the Treasury Managed Fund (TMF), which provides cover for all insurance exposures faced by general government sector budget dependent agencies in New South Wales (other than compulsory third party insurance); and provides cover for all insurance exposures faced by other public sector agencies who choose to join the TMF;
• the management of liabilities from a number of closed schemes. The closed schemes are the Governmental Workers' Compensation Account, the Transport Accidents Compensation Fund, the Pre-managed Fund Reserve and the Rail Infrastructure Corporation;
• the collection and analysis of data provided by TMF claims managers; systems management of the TMF data warehouse; provision of reporting functions to member agencies and monitoring of claims providers; and provision of financial statements and budget estimates;
• provide insurance policy advice to all stakeholders on behalf of the NSW Government; and
• advise member agencies and claims managers on scope of coverage available.