Commercial Insurance

Commercial Insurance Coverage in Singapore

1. Natural Calamities

Commercial property insurance protects your business premises and contents against damage caused by natural disasters like fire, floods, earthquakes, and typhoons. This coverage helps ensure your business can recover financially after such events.

2. Work-Related Accidents

Employers' Liability Insurance covers your legal obligation under the Work Injury Compensation Act (WICA). If an employee is injured or suffers illness due to work activities, WICA requires you to provide compensation for medical expenses, lost wages, and permanent disability. This insurance safeguards your business from these financial burdens.

3. Liabilities for Fraudulent Acts

Protect your business from financial losses caused by dishonest acts or theft committed by your employees. This covers situations like embezzlement, forgery, or fraudulent money handling. It helps ensure your business continuity by mitigating financial losses due to employee dishonesty.

Frequently Asked Questions

What types of businesses can benefit from commercial insurance?

Commercial insurance is suitable for all types of businesses, from small startups to large corporations.

How much coverage do I need for my business?

The amount of coverage you need depends on the size and nature of your business. Get a consultation with me to determine the right coverage for your specific needs.

Do I need commercial insurance if I already have business liability insurance?

While business liability insurance provides some coverage, commercial insurance offers additional benefits and coverage options to protect your business more comprehensively.