Maintaining adequate insurance should be an important part of any business plan, especially if the company is a smaller enterprise. Even though there are many types of insurance available in Singapore, the following policies will provide your company with all-round protection:
1) Work Insurance Compensation (WIC) insurance
This insurance covers the liability of an employer to pay compensation to their employees who suffered work-related injury, occupational illness or diseases in accordance to the Work Injury Compensation Act. Work Injury Compensation insurance is compulsory for all employees doing manual work, as well as all employees earning $1,600 or less a month.
2) Legal Liability Insurance
There is always the unfortunate risk that your business can be held liable for compensation due to acts of negligence by your employees in the course of their work.
3) Commercial Business Package Insurance
Business package insurance is a comprehensive multi-line insurance solution that can be tailored to meet the needs of your business. It provides a critical defense against elements that can disrupt or damage your Business. Symbo is able to provide you flexibility in selecting different sum insured amount and limits of cover to cater to your different business needs.
At both Eezee and Symbo, the focus is on helping businesses get the right products and quotations digitally, seamlessly and with full transparency.
Symbo is a digital insurance platform helping businesses in Singapore with their corporate insurance needs, using latest technology to make the process more efficient. Symbo is licensed and regulated by the Monetary Authority of Singapore and can assist with various general/commercial insurance products such as Fire insurance, Public Liability, SME Insurance Packages, Directors’ & Officer’s insurance, Professional Indemnity, Cyber Insurance and more.