Commercial Insurance
COMMERCIAL / PROPERTY & CASUALTY INSURANCE
Work Injury Compensation
The Work Injury Compensation Act (WICA) covers any local or foreign employee who is under a contract of service or contract of apprenticeship, regardless of salary, age or nationality. Work injury compensation insurance is compulsory for all employees doing manual work, as well as non-manual employees earning less than $2,600 a month.
Failure to provide adequate insurance is an offence carrying a fine of up to $10,000 or jail of up to 12 months, or both.
根据《工伤赔偿法》规定，雇主必须与签订“雇佣合约”或“学习合约”的本地和外籍员工购买工伤赔偿保险，无论工资等级、年龄或国籍。政府规定雇主需为所有体力劳动员工（无论工资高低）及月入等于或少于2600新元的非体力劳动员工购买工伤保险。
若雇主未能提供相关保险，可面对罚款最高 10,000 新元或12个月监禁，或两者兼施。
Employer Liability Insurance
Employer’s liability insurance covers the cost of negligence lawsuits over work-related injuries and illnesses. If an employee or spouse of the employee sues over the death or disability, this policy will help pay your legal costs.
雇主责任保险涵盖因工伤或疾病引起的过失诉讼费用。若员工或员工的配偶就员工罹患疾病、因意外导致受伤或致死而进行起诉，此保险将涵盖所需的法律费用
Foreign Worker Medical Insurance
As an employer, provide the necessary coverage for your foreign worker. The employer must buy and maintain medical insurance coverage of at least $15,000 per year for each Work Permit and S Pass holder (including inpatient care and day surgery).
身为一名负责任的雇主，应该为你的外籍员工提供医疗保障。雇主必须为持有S准证(S Pass)及持有工作准证(Work Permit)的外籍员工购买医疗保险（最低保额为15,000新元，包括住院和日间手术）。
Covid-19 Rider for FWMI
All migrant domestic workers, Work Permit, Training Work Permit and S Pass Holders entering Singapore from 1st January 2021 should have additional medical insurance which has a coverage of at least $10,000 for their medical expenses relating to Covid-19 symptoms or test positive within the first 14 days of their arrival.
从2021年1月1日起，雇主须为入境新加坡的所有外籍女佣、工作准证员工、培训工作准证员工及S准证持有者购买额外的冠病医疗保险。冠病保险投保额至少要1万新元，以支付入境14天若确诊的冠病相关医疗费用。
Foreign Worker Medical Insurance + Covid 19 Rider
All migrant domestic workers, Work Permit, Training Work Permit and S Pass Holders entering Singapore from 1st January 2021 should have additional medical insurance which has a coverage of at least $10,000 for their medical expenses relating to Covid-19 symptoms or test positive within the first 14 days of their arrival.
从2021年1月1日起，雇主须为入境新加坡的所有外籍女佣、工作准证员工、培训工作准证员工及S准证持有者购买额外的冠病医疗保险。冠病保险投保额至少要1万新元，以支付入境14天若确诊的冠病相关医疗费用。
Machinery / Equipment All Risk
Machines or equipment are a crucial component of many industries and businesses. When a breakdown occurs, it can cause a major financial impact on the business.
Machinery All Risks insurance is designed to cover your business against physical loss or damage against unforeseen and sudden physical loss or damage from any cause other than those specifically excluded.
许多行业和企业的运行离开不了机器和基础设备，万一发生任何故障时，将会对业务造成严重的影响。
机械全险保险旨在为您的业务提供机器和设备损失或损坏的保障，以防止因任何原因（特别排除的原因除外）造成不可预见和突然损坏情形。
Erection All Risk
Erection all risk insurance protects your assets during building or installation projects. It also protects you against your legal liability consequent upon injury to third parties and loss or damage to property belonging to third parties. This insurance is ideal for manufacturers, developers and anyone involved in installations of electrical or mechanical plants and machinery.
安装风险保险可在建筑及安装项目期间保护您的资产。此保险保障您免受于第三者受伤和第三者财产损失或损坏而引起的法律责任。此保险非常适合制造商、开发商和任何参与电器或机械设备和机械安装的参与者。
Industrial All Risk
Enjoy broader coverage on your property against accidental loss and property damage. Assets like buildings, stocks (raw material / finished goods) , furniture and contents can be insured under this policy.
可享受更广泛的财产意外损失和损害保障。此保险承保建筑物、库存（原材料/成品）、家具和物品等资产。
Contractor All Risk
Contractor all risk insurance provides coverage for material damage to the contract works and injury caused to third parties. The insurance offers one of the most comprehensive methods for protecting building works and the tools, plants and equipment on a construction site. The building management, landlord or main contractor should purchase this insurance.
承包商风险保险保障建筑工程的物质损失，以及意外事故导致的第三者损失。此保险提供全面的保障以保护建筑工程和建筑工地的工具、厂房及设备。建筑管理人员、业主或总承包商应购买此保险。
Contract Performance Bond
Performance bonds are a type of security that is typically used in building and construction contracts, installation and service contracts, or other physical works, usually provided by a bank or an insurance company to the developer or contractor.
A performance bond guarantees the contractor completes a designated project within a specific period as well as meets the obligations specified in the contract. If satisfactory work is not completed, the insurer will compensate the client.
履约保证是一种通常用于建筑和施工合同、安装和服务合同或其他实体工程的担保，通常由银行或保险公司提供给开发商或承包商。
履约保险保证承包商在规定期限内履行合同，并遵守并履行合同内规定的义务。若没完成令人满意的工作，保险公司将赔偿于受害方。
Public Liability Insurance
Unexpected accidents can still happen despite many safety measures in place like a customer tripping over a piece of equipment and injuring him or herself and deciding to file a legal suit. Public liability insurance covers your legal liability consequent upon injury or property damages to third parties when carrying out your business activities.
尽管采取了安全措施，但意外事故仍可能发生，例如客户不小心被一台设备绊倒而受伤了，并决定向您提起法律诉讼。公共责任保险涵盖您在展开业务活动时对第三者造成伤害或财产损失的法律责任。
Principal’s Existing Property
This insurance policy provides coverage against unforeseen and sudden physical losses or damages to the principal’s existing property or property belonging to the or held in care, custody or control by the Insured(s).
此保险承保对委托人现有财产或属于被保险人，或由被保险人照管、保管或控制的财产造成不可预见且突然发生的损失或损害。
Fire Insurance
This insurance policy covers your property (such as homes, factories and warehouses) against loss or damage by fire, lightning and limited explosion.
When the external or internal structure of the building is damaged due to fire, the owner can claim insurance compensation for the maintenance cost, but the damaged furniture or daily necessities are not covered by the insurance.
火灾保险保障火灾、雷击、爆炸等自然灾害和意外事故所造成的财产损失（如住家、工厂、仓库）。当建筑物因火患产生外部或内部构造损伤及原有设施损坏，业主能为维修费用索取保险赔付，但损坏的家具或生活用品并没有在受保范畴以内。
Insurance Packages
Small-to-medium enterprises (SMEs) play an important role in the country’s economic development, but with smaller cash flows, they are more vulnerable to fluctuations in the economic environment.
Business Insurance Packages are specially designed for SME businesses with wider financial protection against a variety of risks under a comprehensive, all-in-one insurance package.
中小型企业在国家经济发展中扮演重要角色，然而拥有较小的现金流，造成更容易受经济环境波动的影响。商业保险配套专为中小型企业 (SME) 而设，在应对各种风险下提供更广泛、全面的财务保障。
Fidelity Guarantee Insurance
The policy covers loss of money or goods as a result of dishonest acts committed by your employees that result in direct financial losses to you. FGI can also be known as first-party fraud, theft or employee dishonesty cover. There are two kinds of fidelity guarantee insurance. The first is unnamed insurance, which means that all employees are covered by the guarantee, and the compensation amount is determined by the type of work or rank. The second method is to designate specific employees as guarantee objects and set a compensation limit for each individual.
忠诚保证保险主要承保雇员的不法行为致使雇主遭受的经济损失的保险。FGI也可以称为第一方欺诈、盗窃或员工不诚实行为。忠诚保证保险可分为两种，首先是不指名投保，即把所有员工都列入保证范围，并按工种或职级分别设定赔偿额。第二类是指定某些员工为保证对象，并对每个人单独设定赔偿限额。
Commercial General Liability (CGL) Insurance
Commercial General Liability (CGL) Insurance is a type of insurance coverage that offers protection to businesses against a range of liability claims. It’s designed to cover the legal responsibilities that a business might face if it’s found liable for causing bodily injury or property damage to a third party. CGL insurance policies typically include coverage for:
Bodily Injury: If someone is injured on your business premises or due to your business operations, CGL insurance can cover medical expenses, legal fees, and potential settlements or judgments.
Property Damage: If your business activities cause damage to someone else’s property, CGL insurance can cover the costs of repairing or replacing the damaged property.
Personal and Advertising Injury: This type of coverage addresses non-physical injuries such as defamation, libel, slander, copyright infringement, and false advertising claims.
Medical Payments: This covers medical expenses for injuries sustained by third parties on your premises, regardless of fault. It can help mitigate small claims and prevent lawsuits.
Legal Defense Costs: CGL insurance policies typically cover the legal costs associated with defending against covered claims, even if the claims are ultimately found to be groundless.
It’s important to note that CGL insurance provides coverage for claims arising from the normal course of business operations, and it doesn’t cover intentional acts or certain specific risks that might require specialized insurance policies. Businesses often customize their CGL policies to suit their specific needs and risks. The coverage limits, deductibles, and terms of the policy can vary based on the type of business, its size, industry, location, and other factors.
For businesses, having CGL insurance is a way to protect their assets and financial well-being in case they are faced with legal claims or lawsuits resulting from accidents or injuries that occur as part of their normal operations.