Work Injury Compensation / Employer's Liability
Work Injury Compensation / Employer's Liability
In most countries, work injury is regulated by the authorities. The regulation in Singapore stipulates that all employers are responsible for their employees work related injuries. For some categories of workers, the regulation further stipulates that Work Injury Compensation (WIC) insurance is mandatory. As the Ministry of Manpower’s regulation on WIC is constantly updating, employer’s looking to put in place a WIC cover for their employees either on voluntary or mandatory basis should consult the ministry’s website.
WIC is only available on annual basis as per the latest regulation. No longer available in the market is project related WIC cover. This impacts businesses which typically employ labour according to project needs. Where previously these businesses would buy WIC cover according to the labour and period requirements of their projects, they are now not able to do so. The legislation in Singapore stipulates that where a business employs labour and if they are required to buy WIC insurance or if they wish to voluntarilty buy it, it must be bought on annual basis.
However there is still the need sometimes for insurance covering employee injury during projects. The solution is Employer’s Liability (EL) insurance. EL covers the employer for liabilities to their employees for work related injury and/or occupational diseases. If differs from WIC in that this is not directly regulated by the Ministry of Manpower in Singapore. So, where there is a contractual requirement for WIC cover in a project, certain insurers in Singapore are now offering EL.
Whatever your needs, speak to us and we will put in place a cover to keep you compliant. As well, we will ensure your peace of mind with comprehensive cover that is cost effective.
