Commercial Insurance

Covering your annual requirements or project needs.

Commercial Insurance

Work Injury Compensation Insurance

Work Injury Compensation Insurance protects your company by covering claims for injuries or illnesses sustained by employees while on the job.

Did you know?

Under the Work Injury Compensation Act (WICA), all employers are required to purchase work injury compensation insurance for local or foreign employees who are doing:

All manual workers, regardless of salary level.
Non-manual workers, and are earning less than $2,600 monthly.

Failing to provide this insurance is an offence under the Act and may result in a fine of up to S$10,000, imprisonment of up to 12 months, or both.

Employers are still liable for work-related medical expenses and compensation for employees outside these two categories.

Coverage Includes:

Medical expenses up to $45,000.
Compensation for death up to $225,000.
Permanent incapacity compensation up to $289,000.
Lost earnings for employees on light duties due to work injuries, based on their Average Monthly Earnings, including overtime.

Foreign Worker Medical Insurance

Foreign Worker Medical Insurance provides coverage for inpatient care, day surgery, and hospital bills, even for non-work-related medical conditions.

Did you know?

With Effect from 1 July 2023, all employers must purchase and maintain medical insurance with a minimum coverage of $60,000 for Work Permit and S Pass holders. Employers are also required to co-pay 25% of claim amounts exceeding $15,000.

Non-compliance may result in:

Fines up to $10,000.
Imprisonment of up to 12 months.
A ban on hiring foreign workers.

Contractor’s All Risk (CAR) Insurance

CAR Insurance covers loss or damage to contract works and third-party liabilities during construction or renovation projects.

Public Liability Insurance

Public Liability Insurance protects businesses against claims from third parties for bodily injuries or property damage occurring during business operations.

Professional Indemnity Insurance

Professional Indemnity Insurance covers professionals, individuals, and businesses against legal costs arising from negligence claims by clients. Many MNCs require vendors to have sufficient coverage before awarding contracts.

Product Liability Insurance

Product Liability Insurance protects manufacturers and distributors against claims for bodily injuries or property damage caused by their products.

Cyber Liability Insurance

With rising cyber threats, Cyber Liability Insurance helps businesses recover from financial and reputational losses caused by cyberattacks, including data recovery funding.

Directors & Officers (D&O) Liability Insurance

D&O Liability Insurance protects directors and key officers from personal financial losses due to lawsuits from employees, shareholders, competitors, or vendors related to company management decisions.

Property Insurance

Since property is a significant business investment, this insurance covers rented or owned properties and contents against risks such as fires, floods, and other damages.

Motor Insurance

Motor Insurance is mandatory for vehicles on the road, covering:

Third-party damages (mandatory).
Own vehicle damage (optional).

With frequent road accidents, having the right coverage is essential.