Nevertheless Mr Harding’s $821,000 base wage drew instant criticism from the NSW opposition, given the 17 per cent improve since 2019.
Opposition finance spokesman Daniel Mookhey mentioned the pay rise was astounding.
“As a substitute of handing out a pay rise to icare’s new chief, Treasurer Dominic Perrottet ought to have put a cease to exorbitant salaries and lavish bonus funds,” Mr Mookhey mentioned.
“This choice is a slap within the face for each employer and sick and injured employee begging for a cultural reset at icare.”
The remuneration was set by the icare board, which gave consideration to an impartial benchmarking report, the insurer mentioned in an announcement.
“The incoming icare CEO and managing director could have a posh and difficult position and it’s vital now we have the proper individual on the helm as icare enters this subsequent section,” an icare spokeswoman mentioned.
“To be aggressive within the open market and appeal to applicable expertise we have to supply applicable remuneration.”
The earlier chief government’s remuneration bundle additionally included a long-term incentive, which is now not supplied.
The company supplies employees compensation insurance coverage to greater than 326,000 companies, and insures three.6 million staff in NSW.
The insurer has been stricken by scandal since a joint investigation by the Herald and ABC TV’s 4 Corners revealed it had underpaid hundreds of injured employees by as much as $80 million, and that regulators had “grave issues” about its deteriorating monetary place.
Mr Harding mentioned he was trying ahead to working with the board and government to revive public confidence within the insurer after a “turbulent time”.
“I’m heartened by the optimistic strategy of the folks of icare, who day-after-day present their ardour and dedication to their clients,” Mr Harding mentioned.
Incapacity advocate and former NDIS board member John Walsh and former Suncorp Group chief government Michael Cameron have been added to the icare board final month.
In an announcement, icare mentioned Mr Harding had developed sustainability methods on the final government-owned business insurer TIO and the Nominal CTP Insurer for the Northern Territory.
Greens MP and a member of the parliamentary inquiry into icare David Shoebridge welcomed the exterior recruitment of Mr Harding.
“The very fact Mr Harding comes with some expertise within the employees compensation sector, though within the a lot smaller NT scheme, can also be necessary,” Mr Shoebridge mentioned.
Mr Harding’s tenure with icare begins on January 18.
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Tom Rabe is Transport Reporter with The Sydney Morning Herald.