Work Injury Compensation Insurance

Business Insurance

Category: Work Injury Insurance

Work Injury Compensation (WIC) insurance in Singapore provides financial protection to employers by covering their legal liability to compensate employees who suffer work-related injuries, illnesses, or fatalities. This coverage includes medical expenses, lost wages, and compensation for permanent disability or death, as outlined under the Work Injury Compensation Act (WICA).

The information provided on this website is only general information. Please refer to the policy's full terms, conditions and exclusions for the specific details and coverage.

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Work Injury Compensation (WIC) Insurance is essential for:

Employers in Singapore

WIC insurance is mandatory for all employers with manual workers and non-manual workers earning a monthly salary of $2,600 or less. However, it is recommended for all employers, regardless of worker classification or salary levels, to mitigate unforeseen risks.

Employees

While the insurance is taken by employers, it ensures employees receive fair compensation in the event of a workplace accident or occupational disease.

The information provided on this website is only general information. Please refer to the policy's full terms, conditions and exclusions for the specific details and coverage.

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Compliance with Legal Requirements: Ensures employers meet mandatory obligations under WICA, avoiding penalties and legal repercussions.

Financial Protection for Employers: Covers compensation payouts and medical expenses, reducing the financial strain on employers.

Support for Employees: Provides timely compensation to injured workers, fostering trust and a positive workplace environment.

Covers a Wide Range of Risks: Protects against claims related to workplace accidents, commuting accidents (in certain circumstances), and occupational diseases.

Promotes Business Sustainability: By safeguarding against financial liabilities, businesses can maintain operations without disruption in the event of a workplace injury claim.

WIC insurance is a critical safeguard for employers and employees, ensuring workplace safety and providing essential financial security in compliance with Singapore’s legal framework.

The information provided on this website is only general information. Please refer to the policy's full terms, conditions and exclusions for the specific details and coverage.

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"Sheila Goh, our primary contact, understands our strategy and is able to tailor insurance products that suit our needs. When an insurance claim had to be made, the process was seamless and settlement timely.